Net weekly outflows from Bitcoin ETFs reached $690 million as BTC briefly 
touched $60,000, reigniting analyst criticism over “paper Bitcoin” and 
scarcity.

Bitcoin ETFs shed $434M as BTC briefly touches $60K, assets near $80B

Bitcoin price entered Friday under pressure as $2.1 billion in options 
contracts approach expiry. Bitcoin is facing another key test as a large batch 
of derivatives contracts reaches maturity. Bitcoin options worth about $2.1 
billion are set to expire at…

Bitcoin options worth $2.1B set to expire today: Will BTC price fall back towards $60K?

Metaplanet CEO Simon Gerovich is sticking with the company’s Bitcoin 
accumulation plan despite a brutal drawdown in both its stock and the wider 
crypto market.

Metaplanet vows to keep buying Bitcoin as sentiment craters

Several local mining experts agree that there is sufficient gas in the country 
to establish a mobile fleet of bitcoin miners directly adjacent to oil 
extraction operations. Estimates set the gas lost to flaring operations in the 
country at 13,000 cubic meters, which could be used to power bitcoin mining 
farms. Venezuela Might Become a […]

Analysts: Venezuela’s Oil Industry Resurgence May Precede a Flared-Gas Bitcoin Mining Boom

Bitcoin printed one of the largest ever daily candles to the downside on 
Thursday, sliding more than 15%, roughly $10,800, in a move that rippled 
through derivatives, spot venues, and the US Bitcoin ETF complex. The scale of 
the drop is what made it stand out. Not just the percentage drawdown, but the 
mix of stress signals hitting at once: implied volatility spiking, volumes 
exploding, and momentum gauges collapsing into levels typically associated 
with forced selling rather than discretionary risk reduction. Bitcoin Crash 
Sparks Capitulation Signals Real Vision’s Jamie Coutts framed the session as a 
“capitulation watch,” pointing to a cluster of metrics rarely seen together. 
He highlighted Bitcoin implied volatility via BVIV at 88.55, “closing in on 
the FTX-collapse peak of 105,” and noted Coinbase logged its eighth-largest 
trading day ever by USD value, with $3.34 billion changing hands—roughly 
54,000 BTC at ~$62,000. Related Reading: PlanB Lays Out Four Bitcoin Bear- 
Market Scenarios Coutts also underscored how extreme the momentum reset looked 
on daily charts, citing a daily RSI of 15.64, “at or below March 2020 COVID 
crash lows.” He added: “Margin calls are firing. Forced liquidations are 
likely still working through the system. This has the signature of a 
capitulation event, but capitulation can be a process, not a single candle 
(unless we get a massive wick!). These conditions can persist for weeks or 
even months before a durable low forms.” Macro trader Alex Krüger stopped 
short of a price target for the lows, but argued the market was registering 
the kind of positioning and pricing distortions that tend to cluster around 
turning points in time. “Friends I really do not know where the bitcoin bottom 
is but I can recognize extreme conditions that you only see close to bottoms 
in time, such as extreme negative funding, options skew at levels only seen 
once before since 2022 (FTX day), and volumes &amp; liquidations at extraordinary 
levels,” he wrote. “You also have some monster shorts that opened between 64k 
and 60k, material for a short squeeze sending price to 68k, and if we see so 
then everyone will start talking about the bottom.” Krüger’s caveat was just 
as direct: “In the meantime of course equities need to hold. And having a 
bottom in does not mean that you will see a major trend from here.” Galaxy’s 
Alex Thorn described the tape as historically stretched on RSI measures, 
saying bitcoin was “the most oversold today than any day since 3AC blew up in 
June 2022 (30d RSI),” and calling it “basically in the top 3 oversold events 
ever,” alongside November 2018 and June 2022. The US spot Bitcoin ETF market 
didn’t cushion the move, it amplified the day’s activity. Bloomberg 
Intelligence’s Eric Balchunas said BlackRock’s iShares Bitcoin Trust (IBIT) 
“just crushed its daily volume record with $10b worth of shares traded” as the 
fund’s price fell 13%, its second-worst daily drop since launch. Head of 
Research for Anchorage Digital David Lawant added that IBIT alone trading 
above $10 billion was the highest since launch, beating prior records by 69% 
in shares and 27% in USD volume. Related Reading: Bitcoin Crash Exposes 
Colossal Corporate Losses — Here’s Who’s Most Impacted Positioning data hinted 
at a complex, two-sided ETF ecosystem. Head of Research at K33 Research Vetle 
Lunde noted net equivalent short exposure in short BTC ETFs was nearing the 
November 2022 peak at 7,745 BTC, while 2x leveraged long BTC ETFs—products 
that didn’t exist then—currently hold 39,590 BTC, “at levels not seen since 
Mar 24.” Volatility remained the throughline. ProCap CIO Jeff Park said: 
“Bitcoin implied vol is now at 75%. This is the highest level since the ETF 
launch in 2024. It is also finally higher than gold volatility. Know it&#8217;s a 
lot of pain right now, but this is all part of the process required for 
Bitcoin to make new highs. The melt up will be fast.” At press time, BTC 
rebounded from $60,000 to roughly $64,900, a gain of about 9% from the session 
low. Featured image created with DALL.E, chart from TradingView.com

Cryptocurrency price in PHP