Summary
- Bitcoin price hovers above $58,700 but faces a bearish trend if it closes below that level.
- US spot Bitcoin ETFs experienced outflows totaling $103.8 million this week.
- Exchange Netflow data shows 61,715.3 BTC moved from exchanges to holders’ wallets.
- On-chain data indicates a negative bias with falling Coinbase Premium Index and spike in Network Realized Profit/Loss.