I just noticed something quite interesting on this week’s Bitcoin chart. The RSI has dropped below 25 — an all-time oversold level — while the price remains sideways around $65,999 USD. But the cool part is that buying pressure is gradually coming back, like a cartoon panda waking up.

The current structure is creating a rather unusual context. On the daily timeframe, Bitcoin is consolidating fairly steadily around the $65K zone. But looking at the weekly chart, it’s a different story — six consecutive weeks of closing lower, with the price down about 35% from the January peak of $97K. When combining both timeframes, you’ll see the market is prone to sudden trap moves — the price could spike up or down sharply to trigger stop-losses, then reverse quickly.

But here’s the interesting part: Bitcoin ETF net inflow has just turned positive again at $257 million, and the Coinbase Premium Index has shifted to positive. This suggests that US investors are quietly accumulating, even though the price is sideways. When CPI is positive, it often means that prices on Coinbase are higher than on other exchanges — indicating improving demand from the US.

On the other hand, short-term liquidity is heavily concentrated around $70K. If the price breaks above this zone, short positions will face pressure, and a squeeze could occur as stop-losses get triggered in quick succession. Extremely oversold RSI usually hints that selling pressure is nearly exhausted, especially when combined with signs of ETF capital flow recovery.

The issue is that the market remains cautious, with too many short positions. When everyone is waiting for a direction, the market tends to react strongly to small changes in capital flow. I think it’s important to closely monitor the order book, investor behavior at different price levels, and sentiment indicators to determine who really has control. If buying momentum continues as ETF signals suggest, a bear trap could be forming soon.