Explainer – Why is Bitcoin under so much sell pressure right now?
Bitcoin is currently facing significant sell pressure due to multiple negative factors. Despite a slight market recovery, BTC underperformed compared to altcoins. Mega-whale Garrett Bullish deposited over 5,000 BTC (worth $345 million) into Binance, signaling potential large-scale selling to cut losses. Additionally, Bitcoin experienced its largest liquidation event of the year, with over 90k BTC liquidated in 24 hours, coinciding with its lowest social sentiment in four years. The cryptocurrency has also decoupled from the global M2 money supply, indicating reduced capital inflow into BTC. These conditions suggest continued bearish pressure until market dynamics shift.
ambcrypto02/08 06:02
