BTC Holding $66.6K — Weak Demand, Sellers in Control

Bitcoin continues to trade near $66,600, showing slow and volatile price movements. The holiday period has reduced liquidity, and with buyers pulling back, sellers have gained some short-term control. Trading volume is low, and momentum is weakening.

Although institutional inflows continue to be positive, they aren't enough to push the price higher. Over the past month, ETFs have added about 50,000 BTC, the strongest inflow since October 2025, and corporate investors have added around 44,000 BTC. Still, this buying is countered by broader selling in the market.

According to CryptoQuant, whales holding between 1,000 and 10,000 BTC have shifted to net selling. Their exchange balances have declined from 200,000 to 188,000 BTC over the past year. Mid-sized investors are also slowing their buying. Additionally, Coinbase trading at a discount suggests weak spot demand in the U.S.

With CME futures and ETF flows paused due to the holiday, institutional support is temporarily absent. This situation exposes Bitcoin to spot market moves in an environment with low liquidity, which generally leans bearish.

Market maker Enflux highlights growing macroeconomic pressure. The ISM price index rose to 78.3, lowering hopes for rate cuts, which tends to hurt risk assets.

Last week experienced $296 million in ETF outflows, and early April inflows are weak. Any potential gains are likely capped within the resistance zone of $71,500 to $81,200.

If the upcoming Core PCE data on April 9 comes in above 3.1%, expectations for rate cuts may decline further, increasing the downside risk for Bitcoin.

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