Analysis: Currently, approximately 8 to 9 million BTC are in a "locked" state, with overall trading activity remaining subdued before Easter.

SmartContractAuditor · 2026-04-02T14:47:33+00:00

Bitcoin price drops below $66,000, with spot demand insufficient to sustain the upward trend. The market is still in a transitional phase. Approximately 8 to 9 million BTC are in a "locked-in" state, with long-term holders experiencing losses. On the funding side, Bitcoin ETFs are experiencing outflows, and options market sentiment remains cautious.

SmartContractAuditor

2026-04-02 14:47:33

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Odaily Planet Daily reports that Bitcoin has fallen below the $66,000 threshold. On-chain data shows that spot demand has begun to absorb sell pressure, but it is still not enough to support sustained upside, and the market remains in a transitional phase. Roughly 8 million to 9 million BTC are in a “trapped” state. Overhead sell pressure has created a continuing source of resistance, while long-term holders are still realizing losses at relatively high levels, indicating that the reallocation of holdings has not yet finished.

In terms of liquidity, Bitcoin ETFs briefly saw consecutive days of net inflows at the end of March, but then turned back to outflows. As of April 1, net outflows from U.S. Bitcoin funds totaled $174 million. In the options market, implied volatility has declined and skew has shifted downward for downside protection, suggesting that investors are more inclined to hedge risk rather than bet on a breakout. Overall market sentiment remains cautious, and trading activity has been subdued ahead of Easter. (The Block)

BTC-1,87%

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