Dollar tightens while Bitcoin balances drift lower

Bitcoin trades in low-conviction consolidation near 61700 with outflows from exchanges signaling reduced selling pressure yet failing to attract fresh spot demand amid ETF redemptions. The ignored contradiction is that dollar strength and rising yields are draining liquidity while geopolitical energy shocks and miner difficulty adjustments add friction without any offsetting bid from risk assets. The hard question is whether holders sitting near breakeven will absorb supply when the next macro tightening or Hormuz flare-up hits.