Bitcoin Price Dips Below $90K, Triggers Over $100M in Liquidations
- Bitcoin‘s price fell below $90,000, causing long liquidations exceeding $100 million within an hour.
- The decline is linked to significant outflows from Bitcoin investment products, with US spot Bitcoin ETFs seeing $486 million in redemptions on Wednesday, the largest single-day outflow since late November.
- At press time, Bitcoin was around $90,000, down about 3% in the last 24 hours.
- On-chain demand remains weak and insufficient to support a rally toward $100,000.
Trading Analysis
Trading Signal: BEARISH (Score: -6)
The large outflows from ETFs and weak on-chain demand suggest bearish sentiment.
Price Levels:
Current: $90,000
Support: Not specified | Resistance: Not specified
24h/Recent Range: Not specified
Catalysts & Timeline:
• Near-term: End of holiday period may increase trading activity
Risk Assessment:
• Significant ETF outflows could pressure prices further.
The recent dip in Bitcoin’s price below $90K has triggered substantial liquidations and reflects bearish market sentiment due to heavy ETF outflows and weak on-chain demand.
Source (3.2)https://cryptobriefing.com/bitcoin-dips-triggering-liquidations-etf-outflows/?rand=59535
