"Bitcoin hovered above USD 110,000 on Thursday, testing key support as renewed U.S.-China trade frictions continued to weigh on risk appetite. The cautious tone across markets was underscored by gold hitting successive record highs above USD 4,230 per ounce, reflecting investors' preference for safe-haven assets. ETF flows mirrored this sentiment, with US spot Bitcoin funds posting another outflow of USD 94 million on Wednesday, while derivatives data showed ongoing selling pressure."
"Over the past 24 hours, total liquidations reached USD 418 million, with long positions outnumbering shorts by roughly 2.4 to 1, highlighting forced unwinds and fading bullish conviction. Additionally, on-chain data confirmed profit-taking among long-term investors. Holders with positions older than 155 days sold around 265,700 BTC in the past month, marking the largest such outflow since January. The move reflects rising caution among veteran holders amid volatility, painting a bearish scenario for the cryptocurrency."
Bitcoin hovered above USD 110,000 and tested key support amid renewed U.S.-China trade frictions that weighed on risk appetite. Gold reached successive record highs above USD 4,230 per ounce, indicating a tilt toward safe-haven assets. U.S. spot Bitcoin ETFs recorded an outflow of USD 94 million on Wednesday while derivatives data showed continued selling pressure. Total liquidations in the past 24 hours hit USD 418 million, with longs outnumbering shorts about 2.4 to 1, signaling forced unwinds and fading bullish conviction. On-chain data showed holders with positions older than 155 days sold roughly 265,700 BTC in the past month, the largest outflow from that cohort since January, reflecting rising caution among veteran holders and a bearish bias for the cryptocurrency.
Read at London Business News | Londonlovesbusiness.com
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