Bitcoin heads into holiday weekend exposed as ETF and CME flows go offline
Bitcoin faces potential price drops as ETF and CME futures trading pause during the holiday weekend, coinciding with weakening demand and increased selling pressure.Summary
Bitcoin is experiencing choppy trading around $66,600 as the market heads into a liquidity gap over the Good Friday holiday weekend. The pause in CME futures and ETF flows removes a key source of demand, especially as large holders are distributing Bitcoin and spot demand weakens. Despite recent ETF purchases reaching multi-month highs, overall demand remains negative due to selling from other participants. Institutional activity is not translating into price support, and the market is increasingly sensitive to macroeconomic factors like inflation data and rate-cut expectations. The absence of institutional bidding during the long weekend could exacerbate selling pressure, with potential resistance levels between $71,500 and $81,200. Upcoming U.S. inflation data on April 9th will be a key test, as higher-than-expected core PCE could further strengthen the bearish case for Bitcoin.
(Source：CoinDesk)