Bitcoin traded lower after losing the $80,000 level, grinding down to finish Friday just below $77,000. Ethereum and most altcoins moved sideways, while a few assets printed green candles. Concentrated stock indices rose, precious metals consolidated, and bond markets showed weakness as yields climbed in both the U.S. and Japan. Bitcoin faced heavy overhead technical and institutional resistance, with weakening spot demand, slowing ETF inflows, and overcrowded long positions cooling upside momentum. Glassnode pointed to institutional exhaustion, supported by 13F filings showing Harvard reduced spot Bitcoin ETF exposure and fully liquidated ethereum positions. Mark Cuban also sold most of his bitcoin. A historical cycle model suggests a bottom in October, with a bull-to-bear timing framework.
"Bitcoin is currently battling heavy overhead technical and institutional resistance. Glassnode corroborated this cautious outlook, noting that weakening spot demand, slowing ETF inflows, and overcrowded long positions are actively cooling upside momentum. The exhaustion is showing at the institutional level. The latest 13F filings revealed that Harvard University slashed its spot Bitcoin ETF exposure by nearly 50% and completely liquidated its ethereum positions in Q1. Meanwhile, billionaire Mark Cuban made waves by announcing he sold most of his bitcoin."
"Bitcoin spent the week grinding downward after losing the $80,000 level, finishing Friday just below $77,000. Ethereum and altcoins went sideways, with a few select outliers printing green candles. The very concentrated stock indices pushed higher once again, while precious metals continued consolidating. Meanwhile, bond markets in both the U.S. and Japan showed more signs of weakness as yields climbed even higher."
"One analyst highlighted a metronomic historical pattern governing Bitcoin's macro movements: each bull run lasts exactly 1,065 days, followed by a precise 365-day bear market. If this holds true, our current correction is slated to find its bottom in October. As the title of this week's newsletter implies, two stories defined the week. Both have been ongoing developments over the past couple of months, although the Ethereum story is arguably years in the making."
"Hyperliquid's HYPE rose 50% on $11M fees; CME pressure and ETF flows are next tests. Bitcoin lost $80K as ETF demand cooled; Glassnode sees resistance, with October bottom eyed. Ethereum saw 8 EF exits and 31% staking; Bankless turmoil may spur a new ETH org."
Read at news.bitcoin.com
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