BTC continued to trade between the $100,000–$105,000 range, opening the day at the lower band of $101,900.
Renewed ETF outflows saw Bitcoin lose –$278 million, while Ethereum lost –$184 million. Solana continues to outperform with an addition of +$18.06 million.
Futures positioning: open interest slipped by –3.58% to $66.14 billion with liquidations worth $186.47 million, majority of them, long liquidations.
Whales accumulation continues with over 45,000 BTC added this week, the second-largest accumulation of 2025.
Macro tailwinds: U.S. government officially reopens after House passes spending bill with China–U.S. trade tone continuing to soften; aiding global liquidity.
The Polygon-GSR backed chain enters a sector where monthly volumes have hit $739 billion — but where Hyperliquid already commands the majority of open interest
Bitcoin recovered to $71,500 amid US-Iran tensions that rattled broader markets, but a surge in liquidations earlier and rising rate-hike expectations are clouding the outlook.
Stop trying to define “gambling.” A cleaner lens is whether markets permit real information discovery – and whether states treat the underlying activity as a tradable commodity or a tightly controlled wager.
