Bitcoin bounced, but flows still look offside ⚠️
Price is back near 87k, but the structure is weak:
Perp CVD up, Spot CVD deeply negative → leverage chasing, spot selling
Total CVD below prior highs → softer aggression on this move
Premium index negative → US spot demand still missing
Takeaway: This looks like a perp squeeze into resistance, not solid spot buying. If longs tire, low 86k / 84k can come back fast.
Watch: Spot CVD rising with price and the premium index drifting toward zero.