BlackRock-linked wallets deposited 5,212 BTC and 20,000 ETH to Coinbase, a combined transfer worth over $430 million that has drawn immediate attention from on-chain analysts and traders watching for signals of institutional selling pressure.
Bitcoin's (CRYPTO: BTC) has imploded 15% over the past week, plunging below $62,000 in early morning hours Thursday. Yet, macro investor Raoul Pal says this is not the start of a bear market but rather another painful correction within a broader bull cycle.
The decline highlights the volatility of cryptocurrencies and underscores the impact of regulatory uncertainty on market stability and investor confidence. Bitcoin drops to $61,000, down 25% this month amid US regulatory uncertainty.
A Charles Schwab strategist says Bitcoin isn't crashing because of Michael Saylor's sale, it's losing the momentum trade to gold, AI stocks, and IPOs.
Bitcoin's 200-week moving average, sitting at around $61,700, is the line the market is watching most closely right now. That level has marked the bottom of every major Bitcoin bear cycle going back to 2015, and it held again this week — at least for now.
Market data suggests that the amount of Bitcoin collectively held by ETFs and the BTC treasury company MicroStrategy surpasses that held by pseudonymous BTC creator Satoshi Nakamoto.
BTC crashed to $61,300 before recovering to $62,500 with $3 billion in liquidations over two days. Traders loaded up on $60,000 puts in anticipation of further declines.
Strategy's 32 BTC sale exposes STRC dividend risk as mNAV weakens and ETF outflows hit $3.5B.
LTH Capitulation: What It Signals for Bitcoin Cycle Bottom
New crypto trading products are exploding across U.S. markets, but analysts say the surge is also exposing a growing identity crisis for digital assets. Perpetual Bitcoin Futures Prediction market platform Kalshi launched regulated perpetual Bitcoin (CRYPTO: BTC) futures last week after receiving approval from the Commodity Futures Trading Commission.
Bitcoin is seeing a sharp drop in its price as selling pressure continues to intensify amid the prolonged crypto market volatility, showing no sign of recovery in the near future.
Bitcoin faces a turbulent market as $1.6 billion in liquidations hit traders hard, while the S&P 500 thrives.