The sharp decline of bitcoin wiped out $ 1.06 billion in the Crypto market in 86,099, with long positions faced $ 873 million.
By 26 February data From coinglass, 230,000 traders have been liquid in the last 24 hours. Open interest has declined by 5%, indicating extensive delevening. Exchange inflows have climbed 14.2%, potentially indicate the sale of more terror. In addition, funding rates have transferred negatives, which reflects changes in investors’ attitude.
The US Spot Bitcoin (BTC) strong withdrawal from ETFS was with large -scale sales. The five-day outflow was a total of $ 1.1 billion, with ETFS alone damaged $ 516 million on 24 February.
Crypto-related stocks were also affected, the coinbase (coin) 6.4%falls, Robinhood (HOD) falls 8%, and bitcoin miners bitDier (BTDR) and Marathon Digital (MARA) fell 29%and 9%respectively.
According to the on-chain data of Intotheblock, 12% of all bitcoin addresses is currently in a loss, the highest percentage of unrealistic damage since October 2024. Now additional sales are more likely to be stopped as many investors have purchased passes. All time of $ 108,000 are under high level of water.
Whale activity has also accelerated. During the previous week, Bitcoin Whale has uploaded more than $ 1.2 billion. The decline of bitcoin has been triggered by deteriorating mass macroeconomic conditions.
The global markets are shaken by Donald Trump’s proposed tariffs on Canada and Mexico, which have raised concerns about inflation and economic stagnation. Meanwhile, geopolitical tension between the United States and China, especially on the trade restrictions on the semiconductor, has reduced the risk of risk.
Traditional financial markets have also declined, with NASDAQ composite 2.8% and S&P 500 decrease by 2.1%. A flight for safety, which usually puts pressure on the risk -like property like bitcoin, indicates strengthening the US dollar index.
The support of $ 88,000 for bitcoin is still important as it may have another round of liquidity due to decline. Although excessive leverage, frequent economic uncertainty, and the confidence of the market indicate more volatility in the future, traders are looking at $ 90,000 as a possible recovery level.
