Bitcoin's price remains under $59,000, facing downward pressure amidst inconsistent bullish factors, while Ethereum struggles to maintain above $2,300.
In stark contrast to net positive inflows last Friday of over $263 million, bearish sentiment surrounding US bitcoin spot ETFs continues to rise, leading to increased short volume.
The increasing bitcoin balance on exchanges suggests that investors are selling more, with a notable rise from 3 million in late August to 3.019 million now, according to Cointelegraph.
Liquidation of over $190 million in long cryptocurrency futures since last Saturday shows a shift in market dynamics, with shorts now making up over 50% of total volume.
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