"Bitcoin is stabilising today above 86,000 dollars, rising by 0.7 percent after yesterday's heavy selloff that saw a 4.5 percent decline at the close and more than 7 percent intraday. Bitcoin's recent stabilization is masking deeper fragility beneath the surface. According to current market dynamics, whales continue to offload holdings, leverage reset remains incomplete, and no convincing signs of a bottom have emerged."
"According to BGeometrics, the number of whales holding between 1,000 and 10,000 BTC dropped to 1,918 addresses on Sunday, the lowest level since January 2024. Such consistent offloading from mid-to-large holders weakens any attempt at a sustainable price floor and reinforces the probability of deeper retracements. Spot-market activity also reflects weakening conviction. Bitcoin on-balance volume on Coinbase continues to trend lower"
Bitcoin is trading above $86,000 after a sharp selloff but underlying market fragility persists. Whales continue to offload holdings, with addresses holding 1,000–10,000 BTC falling to 1,918, the lowest since January 2024, undermining attempts to establish a durable price floor. Spot-market conviction is weakening as on-balance volume on Coinbase trends toward its weakest reading since April, indicating distribution dominance. Futures open interest has declined to about $124 billion and liquidation waves remain frequent, leaving the leveraged reset incomplete. External shocks, including Bank of Japan tightening and balance-sheet concerns at Strategy, keep downside risks elevated and prevent a clear bottom.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]