CoinEx Daily: Bitcoin Stays Under Pressure on Defensive Sentiment and Broad Risk-Asset Fragility

Daily View

Bitcoin remains under pressure below the $63,000 area after briefly breaking under $62,000, with ETF outflows, large options expiry positioning, and on-chain data showing it has stayed below the short-term holder cost basis for months reinforcing a cautious near-term tone. Macro conditions are also unsupportive: elevated rate uncertainty, record leverage in U.S. ETF markets, weakness in AI-linked equities, and sharp reversals in South Korea’s KOSPI point to broader risk-asset fragility, while a firm dollar continues to tighten financial conditions. Overall crypto market sentiment is defensive, with investors focused on downside risk, liquidity conditions, and whether quarter-end rebalancing pressure and macro volatility will keep Bitcoin in consolidation or force a deeper reset.