Odaily Planet Daily News: Bitcoin failed to hold above $70,000 after rebounding over the weekend and has declined for the third consecutive day. Amid weakening spot trading volume, the Crypto Fear & Greed Index remains in the “Extreme Fear” zone. On-chain data provider Glassnode states that this correction is still mild compared to historical cycles, with no signs of panic selling typically seen at cycle tops, suggesting it may be a good point for medium- to long-term positioning. Meanwhile, Bitcoin spot ETFs have maintained stable net inflows over the past three days, providing some hedge against market selling pressure. With spot trading volume low, leveraged funds are driving short-term price fluctuations. Previously, Bitcoin’s rebound from lows was affected by crowded short positions, and short-term prices may continue to fluctuate sharply within a range. On the macro front, weaker-than-expected US retail sales data has boosted expectations for rate cuts and suppressed the dollar’s strength. The market will next focus on non-farm employment and inflation data, which could further influence risk asset sentiment. (CoinDesk)
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