Bitcoin is trading near $89,090, down about 4% over 24 hours, with a 24-hour volume near $71 billion and a market capitalization around $1.78 trillion. The price sits roughly 4% below a seven-day high of $93,662 and near a seven-day low of $88,800, with 19.95 million BTC circulating of a 21 million maximum. Major crypto stocks fell, including Coinbase Global, Bitfarms, Strategy, Riot Platforms, Hut 8 Mining and Mara Holdings. Market activity has been strongly affected by ETF flows: BlackRock’s IBIT recorded a record single-day outflow of $523.2 million, and IBIT investors’ average purchase price is $90,146. Sentiment indicators are near multi-year lows and trading is subdued, while miners’ 30-day net BTC position has flipped to modest accumulation after recent capital raises.
"Bitcoin price is currently trading at $89,090, down 4% over the past 24 hours, with a 24-hour trading volume of $71 billion. The cryptocurrency is 4% below its seven-day high of $93,662 and roughly flat from its seven-day low of $88,800, according to Bitcoin Magazine Pro data. With a circulating supply of 19.95 million BTC out of a maximum 21 million, Bitcoin's market capitalization stands at $1.78 trillion."
"Current sentiment indicators are near multi-year lows, pointing to subdued trading activity but potentially attractive entry points for longer-term investors. Meanwhile, Bitcoin miners appear to be adjusting strategies in response to market volatility. Following a period of heavy distribution, miners' 30-day net BTC position has flipped to modest accumulation after recent capital raises in the sector, signaling renewed confidence in holding mined Bitcoin rather than selling."
Read at Bitcoin Magazine
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