Bitcoin Pullback Hits Sub-$69K as Futures Selling Caps Rally

Bitcoin fell below $69,000 on Thursday, pulling the price back into its six-week range after briefly topping above $76,000. The move came as selling from Bitcoin futures markets rose and demand from US-based spot buyers stalled. The Coinbase premium gap turned negative, signaling weaker US follow-through.

Cumulative volume delta data showed the spot CVD fell by $40.64 million while the perpetual CVD dropped by $506.75 million, highlighting stronger selling from leveraged traders. Funding rates flipped positive to 0.05%, meaning longs are paying shorts, and order-book data still shows bid-side support near $70,000.

On lower timeframes, price action is tracing a fractal similar to the March 6–8 correction: successive lower lows that can lead to an exhaustion phase. A comparable RSI bullish divergence is developing, and large long-side liquidations have reduced open interest in both episodes, flushing overleveraged positions.

United States

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