ETF demand is easing at the margin, Bitcoin derivatives indicate deep-seated concern, and on-chain data puts the key battleground squarely around $74,500, the average cost basis of millions of investors currently sitting at a loss, despite a strong rebound from Tuesday’s $62,400 low. {chart} After hitting a local low of $62,400 on Tuesday, Bitcoin has recovered significantly, and as of this writing, it is trading above $67,000 after a 7.45% rebound. The recovery followed two days in a row of positive inflows into US-listed Bitcoin ETFs, which brought in a total of $764 million. This helped to partially reverse the ... (full story)