CryptoQuant Data Shows Fading Futures Demand and Weakening Spot Buying as BTC Stalls Near Key Resistance
The Coinbase bitcoin premium index has fallen to its lowest level in a month, with analysts warning that intensified institutional selling is adding significant weight to BTC's near-term price outlook. What the Data Shows The Coinbase bitcoin premium, an index measuring the price difference between bitcoin traded on Coinbase (used predominantly by U.S.
The U.S. Securities and Exchange Commission (SEC) has officially approved Nasdaqs proposal to introduce Bitcoin index options, marking another major step in connecting traditional finance with the cryptocurrency industry. The move highlights the growing integration of digital assets into regulated financial markets and strengthens institutional access to crypto-related investment products.
The crypto market experienced another volatile week between May 18 and May 23, as Bitcoin price dropped from $78,000 to nearly $75,000 despite several bullish developments across the industry. Investors closely watched major headlines involving Donald Trump, a proposed US Bitcoin reserve, SpaceXs crypto holdings, and Hyperliquids explosive rally.
Veteran gold advocate and longtime Bitcoin critic Peter Schiff has once again shared a bearish outlook on Bitcoin, warning investors that the widely discussed $60,000 support level may not hold. In a recent exchange on X, Schiff dismissed claims that Bitcoin had found a strong bottom at $60K, describing the level as a potential trap door for further downside.
Bitcoin is trading in a volatile but technically fragile range on Saturday as bearish pressure from Friday evening's whiplash continues to dominate higher time frames despite selective short-term recovery attempts. Traders are monitoring whether the leading crypto asset can stabilize above the critical $74,000 support zone after a sharp retreat from recent highs near $82,833.
Bitcoin (BTC) continued its downward trend on Saturday, falling to nearly $74,300 as investors accelerated withdrawals from U.S.-listed spot Bitcoin ETFs. The leading cryptocurrency touched its lowest level since April 20, according to CoinDesk market data, after losing more than 3% in the past 24 hours.
The decline in Bitcoin's value signals potential volatility and uncertainty in the crypto market, affecting investor confidence and future forecasts. Bitcoin drops $75K, crypto market cap down 3.2%.
In a recent interaction on X, longtime cryptocurrency critic Peter Schiff warns that the $60,000 level might not be the ultimate price floor for Bitcoin price, referring to it as a "trap door".
The U.S. Securities and Exchange Commission has approved Nasdaq to list cash-settled bitcoin index options on the Philadelphia Stock Exchange, opening a new derivatives gateway for institutional investors who want regulated bitcoin exposure without custody complications.
Crypto analyst Chain Mind has indicated that the Bitcoin price has yet to bottom. He alluded to historical performance, which shows that BTC has never bottomed without touching the EMA 300.
Bitcoin markets increasingly relied on leverage-driven momentum as ETF flows and U.S. Spot demand gradually weakened.