Bitcoin Faces Price Movement with Mixed Market Signals

Key Points

1. Bitcoin tested a liquidity gap between $104,000 and $114,000 before retracting from its all-time high.

2. The Relative Strength Index (RSI) in the spot market dropped from 74.4 to 51.7, indicating buyer fatigue.

3. Daily trading volumes in the spot market fell to $8.6 billion, but Spot CVD showed a recovery to $45.6 billion, signaling renewed demand.

4. ETF flows declined by 80% weekly to $496 million, with trading volumes dropping to $18.7 billion.

5. On-chain data showed a 2.4% decrease in active addresses to 708,000 and a 23% drop in transfer volume, but speculative interest remained due to rising fees and other metrics.