Bitcoin Dips Below $90,000 Amid US Market Pressure
- Bitcoin (BTC) fell below $90,000 as US selling pressure returned at the start of the trading week.
- Liquidations across the crypto market reached $330 million in the last 24 hours, reflecting modest volatility.
- Over the past two weeks, approximately 35,000 BTC has exited exchange order books, indicating a shift towards long-term holding.
- Strategy purchased 10,624 BTC for around $90,000 each last week without boosting overall market confidence.
- Exchange balances for Bitcoin are now lower than those held by ETFs and corporate treasuries, marking a significant supply shift.
The recent dip below $90,000 highlights ongoing volatility in the Bitcoin market as traders remain cautious amid fluctuating prices and modest liquidations. The significant outflow of BTC from exchanges suggests a trend toward long-term holding rather than active trading.
As of now, over 35,000 BTC has left exchanges in just two weeks, indicating a potential tightening of available supply.(Source)
