Here's why bitcoin turned lower from the 200-day average
CoinDesk
Bitcoin's rally stalled at the 200-day moving average due to weakening demand, reduced ETF inflows, and negative market indicators.Summary
Bitcoin's recent recovery attempt failed at the 200-day simple moving average near $82,000, signaling a potential return to bearish trends. According to CryptoQuant, the rally lost momentum as leveraged futures buying, spot demand, and U.S. ETF inflows weakened significantly.
Key metrics including a negative Coinbase premium and the decline of the Bull Score Index to an “extremely bearish” level reflect cooling investor interest. Furthermore, consistent outflows from U.S. spot ETFs and a lack of significant demand in Asian markets, such as the cooling "kimchi premium" in Korea, further confirm the shift. If the current correction continues, $70,000 is viewed as the next critical support level.
(Source：CoinDesk)