Bitcoin's market landscape is complex, with spot market strength contrasting ETF outflows and declining futures activity. 📉 Options markets indicate increased risk perception, while profitability and liquidity metrics suggest investor caution. Spot markets show resilience with rising price momentum, but ETF flows are negative, signaling institutional de-risking. Futures markets weaken with declining open interest and lower funding rates. On-chain activity is subdued, with declining active addresses and transfer volume. Overall, Bitcoin's stability is challenged by broader market defensive stances. 📊