Key takeaways
Bitcoin confronted intense sell-side strain this week, with over 40,000 BTC hitting exchanges and historical wallets reactivating. Regardless of this, BTC held above $110,000, supported by rising Open Curiosity (particularly on Bybit) and impartial Funding Charges that point out a balanced, if tense, market.
Bitcoin [BTC] simply took a punch – over 40,000 BTC landed on exchanges this week
Regardless of that, BTC continued to commerce above $110,000, down from its current peak close to $123,471.
What’s conserving the market from breaking? For one, whale and OTC desk flows stay lively. Right here’s a better have a look at what’s driving the strain and the help!
Funding Charges flatline as Bitcoin holds above $110K
Regardless of a wave of promote strain and enormous spot inflows to exchanges, Bitcoin Funding Charges throughout main derivatives exchanges like OKX, Binance, and Bybit have remained flat to mildly constructive.
Supply: CryptoQuant
This means a pause in extreme leverage and displays a extra balanced market. Liquidation information backs this up – there’s little signal of pressured promoting.
Mixed, these indicators level to a market in consolidation mode, presumably getting ready for the subsequent leg as soon as the summer season lull breaks.
Bybit Open Curiosity surges as value dips
Supply: Alphractal
