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With short-term holders driving Bitcoin’s sell-off, realized losses are hitting historic levels, leaving investors to wonder where the bottom might be.
Binance CEO Richard Teng argued that Bitcoin’s current slide reflects broader risk-off deleveraging, and its volatility is in line with most major asset classes.
BlackRock’s IBIT drives November’s record ETF outflows, bleeding $2.47 billion and accounting for 63% of the $3.79 billion withdrawn from US spot Bitcoin ETFs.
Bitcoiners viewed US Treasury Secretary Scott Bessent’s appearance at the opening night of the Bitcoin-themed bar as “a sign” for Bitcoin.
Bitcoin price corrected alongside major US equities as a tech-led sell-off and investor concerns over AI spending and a Federal Reserve policy shift hit markets hard.
The recent Bitcoin “dumping” is a positive sign for the asset, but it could take years, not weeks, for Bitcoin to reach that magic $200,000 number.
Tax revenue denominated in Bitcoin would be funneled into the US strategic BTC reserve and would not trigger a taxable event for the payer.
Bitcoin weakness persists as the BTC price drops to $86,000, alongside a US stock market sell-off and diminishing odds of a 50-basis-point Fed interest rate cut at the next FOMC.
Analysts say Bitcoin is nearly in its “max pain” zone as the cost basis of BlackRock’s IBIT and Strategy’s massive BTC treasury draws near.
Bitcoin struggles to hold the $90,000 support, and while charts angle toward further price downside, traders have turned their attention to the short liquidity at $98,000 to $100,000.