Is Bitcoin catching a cold?

BTC Wallet Net Outflows Increase...Selling Pressure Continues.
“Looking at the trend of Bitcoin accumulation by wallet holdings, net outflows continued throughout April,” on-chain analytics firm Glassnode said in an official X report. Overall, this suggests that sell-side pressure is continuing.”

Current BTC price is in line with the average bid price of spot ETF buyers.
“The current BTC price is in line with the average purchase price of BTC spot ETF buyers, which is between $5.7 and $5.8 million,” said Unfolded.

Bitcoin price breaks out of key $60,000 support.
Bitcoin broke below the price resistance level due to a decline in on-chain demand. The main reasons for the decline are: fewer long-term holders, less whale activity, and less interest in BTC spot ETFs. The real Coinbase premium has been consistently below zero since mid-April, and whale buying of BTC has slowed significantly.