CoinEx Daily: Bitcoin Pressured by Short Positioning and Supply Overhang in Fragile Risk Backdrop

Daily View

Bitcoin remains under pressure below the $60,000 level, with reports of large leveraged short positioning and renewed focus on potential supply overhang tied to corporate bitcoin sale plans weighing on near-term price action. Macro conditions are also restrictive, as Deutsche Bank’s higher U.S. bond yield forecast points to tighter financial conditions, while equity leadership in technology and communication services and continued U.S. dollar strength against the yen reinforce a risk-selective backdrop. Overall crypto market sentiment remains fragile, with the Fear & Greed Index at 15 in extreme fear territory, reflecting defensive positioning and cautious participation across the market.