BTC $73,431 (-0.31%)

Today’s Insight

$72,330

24h -0.31%|7d -2.49%

The Move

Bitcoin fell 0.31% to $73,431, holding steady despite a nine-day ETF outflow streak totaling $2.8 billion. The price action remained muted as crypto diverged from record-setting U.S.

The Signal

ETF flows hit -0.54σ versus the 30-day mean but stayed within normal range, suggesting institutional rotation rather than panic selling. Large holder accumulation has stalled according to CryptoQuant, indicating demand drought beneath the surface stability.

The Watch

Jobs report in 6 days on June 5th. Employment strength could pressure Fed rate path expectations and extend crypto's underperformance versus risk assets.

Market Evidence

Market Cap

$1.47T

24h Volume

$36.03B

BTC Dominance

57.5%

Fear & Greed

23/ 100

Extreme Fear

BTC Dominance: Bitcoin’s share of total crypto market capitalisation. Rising dominance means capital is rotating into BTC from altcoins. Fear & Greed: aggregates volatility, momentum, social media, and dominance into a 0-100 sentiment score. Below 25 is historically a buying signal; above 75 a caution signal.

What Happened

The Day in 30 Seconds

Bitcoin underperformed across all major asset classes with 24-hour relative returns of -0.53% versus S&P 500 and -0.67% versus NASDAQ-100. The divergence accelerated on a relative basis with Bitcoin down -27.6% versus S&P 500 year-to-date compared to -37.07% versus NASDAQ-100. BTC correlation with S&P 500 remains at 0.47 over 90 days while gold correlation stays low at 0.11, indicating continued risk-asset classification rather than monetary good behavior.

BTC tracking risk assets with 0.47 correlation to S&P 500, no meaningful decoupling today.

BTC vs Everything

Asset	Change	BTC Edge
SPXS&P 500	+9.24%	-27.60%
QQQNASDAQ-100	+18.71%	-37.07%
XAUGold	-3.05%	-15.31%

Today’s Insight

Market Evidence

What Happened

The Day in 30 Seconds

BTC vs Everything

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