Woofun AI data shows that BTC's recent price recovery is characterized by shrinking volume, as weekly spot trading volume fell 21.5% to $4.1 billion and spot CVD turned negative at -$58.8 million. Although US spot BTC ETFs recorded net inflows of $161.3 million, ETF trading volume declined 11.97% to $8.4 billion.

On-chain metrics indicate continued weakness, with active addresses dropping 7.6% to 599,000 and transfer volume decreasing 16.1% to $4 billion. Derivatives data reveals futures funding rates rose 13.4% to $1.9 million, while perpetual contract CVD plummeted 81.7% to $83.9 million. The options market 25-Delta Skew increased to 18.87%, reflecting sustained demand for downside protection.