GM, it's another new day, and BTC is still at its familiar price. According to Glassnode data, last week the net active selling on perpetual contracts dropped from $890 million to $560 million, and the weekly outflow of U.S. BTC spot ETFs also shrank from $680 million to $230 million. The selling pressure has clearly weakened. The bad news is that the weekly trading volume of ETFs is down to just $10.1 billion, breaking below the lower range. Spot price momentum at 36 is also hugging the lower edge, with zero enthusiasm from buyers. Basically, selling pressure is retreating, but new buyers haven’t entered the market yet. It’s another one of those sideways consolidations—so frustrating.