Bitcoin Price Drops Below $84K as Long Liquidations Spike
itcoin fell from $85.5K to $83.9K overnight as long liquidations and taker sell pressure spiked. Shakeout or start of sustained selling?
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itcoin fell from $85.5K to $83.9K overnight as long liquidations and taker sell pressure spiked. Shakeout or start of sustained selling?
Bitcoin long-term holders cut positions for a 7th week (-73.4K BTC). LTH SOPR at 1.18 shows profit-taking as the market absorbs supply.
Bitcoin futures buying pressure hit 4.9, the highest since August, as open interest rose 9K BTC in 24h. The key level for new longs is $83K.
Bitcoin trades 14% above the short-term holder cost basis (realized price) at $73.7K, while the long-term holder cost basis falls to $48.8K.
Bitcoin supply in profit hit its highest level since January and now stands at 72%, while price momentum has fallen to zero at $83K.
Bitcoin realized 19% less profit than at the August peak despite a higher price. STH SOPR fell to 1.01 as short-term holder profit narrows.
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