Key takeaways:
-
Bitcoin softened as tech sector weakness spilled into crypto markets, reducing risk appetite and limiting demand for bullish leverage.
-
Persistent spot Bitcoin ETF outflows and targeted sales from a 2011 holder exacerbated downward pressure.
Bitcoin (BTC) is down 11% since Monday, falling to a six-month low of $94,590 on Friday. Bitcoin derivatives continue to signal weakness, even as several large tech names posted similar declines during the week. Traders are now asking whether the market has already found a floor and what must happen before confidence returns.
The pullback erased $900 million in BTC leveraged long positions, equal to less than 2% of total open interest. Despite the size of that…
more
Source cointelegraph.com
FTC: We use income earning affiliate links. More on Sposored links.
Terms of use and third-party services. More here.
Terms of use and third-party services. More here.