Bitcoin Price Bull Trap Concerns Intensify Amid Weakening Institutional Demand

Bitcoin's price has remained relatively stable at around $77,173, but underlying market conditions suggest a potential bull trap. The recent decline in ETF inflows, which reached a total of $352 million, indicates weakening institutional demand flow.

The Crypto Fear and Greed Index dropped sharply from 62 to 31, shifting sentiment from greed to fear. This shift was likely triggered by macro uncertainty and weakening liquidity conditions across risk assets.

Derivatives positioning also showed reduced leverage exposure, with futures open interest declining from $56 billion to $55 billion. The Coinbase Premium Index remained negative since April 28, indicating lower buying pressure from American investors compared to global exchanges.