Bitcoin plunged below $100,000 for the first time in five months, hitting an intraday low of $99,980 before rebounding to $101,600.
Total liquidations exceeded $1.3 billion, with longs accounting for $1.113 billion, marking one of the largest single-day deleveraging events since May 2021.
Spot Bitcoin ETFs saw $578 million in outflows, their fifth straight day of redemptions; Ethereum ETFs lost $219 million, while Solana ETFs extended their winning streak with $14.83 million in inflows.
Crypto market capitalization fell 2.5% to $3.39 trillion, erasing $289 billion in value within 24 hours.
Short-term holders (STHs) continue to capitulate, sending 30,300 BTC to exchanges at a loss, while the STH-SOPR hovers near 1, reflecting persistent stress.
Bitcoin futures open interest collapsed by over $10 billion, a washout comparable to May 2021 and the FTX 2022 unwind, a structural reset more than full capitulation.
Sota Watanabe, CEO of Startale Group and founder of Astar Foundation, discusses how Japan's snap election could affect crypto tax and regulatory reforms.
As more traders position for downside following Bitcoin’s recent pullback, futures market pressure is building. With key support near $68,000 and resistance at $70,000, technical indicators suggest volatility ahead as the market searches for direction.
As Bitcoin slips back below $69,200 after failing to hold $70,000, onchain data points to a critical long-term support near $45,225 based on the CVDD metric.
