#BTC fell below $84,000, and bears are starting to gain momentum!
Four new wallets used 40x leverage to short 148 BTC, worth about $12.5 million; the U.S. government transferred 834 BTC to Coinbase Prime, while ETFs saw net outflows of about 1,059 BTC.
More importantly, long liquidations exceeded $358 million, accounting for 84% of total long liquidations, as cascading liquidations among bulls further intensified the decline.
Keep a close eye on $85,000 in the short term: if BTC can’t reclaim it, brace for $80,000.
For BTC to turn bullish, it needs to reclaim $85,000 first.
Four new wallets used 40x leverage to short 148 BTC, worth about $12.5 million; the U.S. government transferred 834 BTC to Coinbase Prime, while ETFs saw net outflows of about 1,059 BTC.
More importantly, long liquidations exceeded $358 million, accounting for 84% of total long liquidations, as cascading liquidations among bulls further intensified the decline.
Keep a close eye on $85,000 in the short term: if BTC can’t reclaim it, brace for $80,000.
For BTC to turn bullish, it needs to reclaim $85,000 first.