For the first time in two weeks, sell pressure on the ribbon has appeared... (blue circle on the right) The ribbon's source is still the large contract sell orders near 65k mentioned in the previous post. Yesterday, ETF inflows slowed to just over 100 million. That's why no higher highs were hit yesterday. Bears have a certain opportunity now... Keep an eye on Coinbase premium before the U.S. market opens today. This afternoon, options for this cycle expire, with the pain point at 64k (this might also be one of the reasons why the current price is sandwiched between the upper and lower orders).