CoinEx Daily: Bitcoin Pressured by Defensive Sentiment, ETF Outflows and Bearish Whale Positioning

Daily View

Bitcoin remains under pressure after a sharp weekly drawdown, with price action stabilizing only modestly as persistent ETF outflows, a negative Bitcoin Premium Index for 18 straight days, and increasingly bearish whale positioning point to weak near-term demand. Macro conditions remain a headwind as elevated rate expectations, cautious equity market tone, and firm dollar dynamics continue to tighten financial conditions and limit risk appetite. Overall crypto market sentiment is defensive, with traders reducing exposure, liquidity favoring the sidelines, and confidence staying fragile despite intermittent bounce attempts in Bitcoin.