#BTC
Bitcoin slides to $83,300 as bond yields hit highest level since 2007
BTC$83,161.04
has given back gains from an early Thursday recovery, now trading at $83,344, down 1.23% since midnight UTC, with a bond selloff that pushed the U.S. 10-year Treasury yield to its highest since 2007 weighing on crypto for a second day.
The move has taken the whole market with it, ether
$ETH$2,636.79
is down 1.55%, $XRP lost 2.87% while solana ($SOL) is trading at $113.14 having lost 1.61%. While the smaller tokens led a slight recovery in the European morning, they are now suffering the hardest, with $NEAR and $HYPE down by 3.32% and 3.94% respectively.
The dollar index (DXY) added 0.13% to 101.24 - its highest level since July, while gold is down by 0.71% to $4,257 and U.S. equity futures trend lower again. S&P 500 futures lost 0.61% while Nasdaq 100 tumbled by more than 1%.
Derivatives positioning
Taker flow stays bearish for a second day: Shorts made up over 52% of the 24-hour taker volume, which rose 10% to $250 billion even as open interest fell nearly 6% to $149 billion. Rising volume plus falling OI plus short-heavy flow points to existing positions closing out rather than fresh short conviction building.
btc OI falls faster than price: Bitcoin futures OI dropped 6% against a 3% price decline over 24 hours. Since OI here is notional, a drop that outpaces the price fall means real contracts are closing, not just the dollar value of unchanged positions shrinking, consistent with genuine long unwinding rather than fresh shorts piling in.
Binance whales aren't buying the bearish story: Despite the weak positioning elsewhere, the whale long/short account ratio on Binance, the top exchange by volume, sits back above 1 at 1.30, while the whale position ratio has held under 2 for a second straight day. Large accounts look to be sitting out or leaning against the broader selling, a divergence worth watching rather than dismissing.#Write2Earn #Near $BTC
Bitcoin slides to $83,300 as bond yields hit highest level since 2007
BTC$83,161.04
has given back gains from an early Thursday recovery, now trading at $83,344, down 1.23% since midnight UTC, with a bond selloff that pushed the U.S. 10-year Treasury yield to its highest since 2007 weighing on crypto for a second day.
The move has taken the whole market with it, ether
$ETH$2,636.79
is down 1.55%, $XRP lost 2.87% while solana ($SOL) is trading at $113.14 having lost 1.61%. While the smaller tokens led a slight recovery in the European morning, they are now suffering the hardest, with $NEAR and $HYPE down by 3.32% and 3.94% respectively.
The dollar index (DXY) added 0.13% to 101.24 - its highest level since July, while gold is down by 0.71% to $4,257 and U.S. equity futures trend lower again. S&P 500 futures lost 0.61% while Nasdaq 100 tumbled by more than 1%.
Derivatives positioning
Taker flow stays bearish for a second day: Shorts made up over 52% of the 24-hour taker volume, which rose 10% to $250 billion even as open interest fell nearly 6% to $149 billion. Rising volume plus falling OI plus short-heavy flow points to existing positions closing out rather than fresh short conviction building.
btc OI falls faster than price: Bitcoin futures OI dropped 6% against a 3% price decline over 24 hours. Since OI here is notional, a drop that outpaces the price fall means real contracts are closing, not just the dollar value of unchanged positions shrinking, consistent with genuine long unwinding rather than fresh shorts piling in.
Binance whales aren't buying the bearish story: Despite the weak positioning elsewhere, the whale long/short account ratio on Binance, the top exchange by volume, sits back above 1 at 1.30, while the whale position ratio has held under 2 for a second straight day. Large accounts look to be sitting out or leaning against the broader selling, a divergence worth watching rather than dismissing.#Write2Earn #Near $BTC
