Glassnode data shows soft participation, while a negative gamma setup below $68,000 leaves BTC exposed to a faster move toward $60,000.
Bitcoin drops toward $68,000 as demand weakens and whales sell
Glassnode data shows soft participation, while a negative gamma setup below $68,000 leaves BTC exposed to a faster move toward $60,000.
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Ether traders took the biggest hit, with $348.9 million liquidated, followed by Bitcoin at $177.1 million. Solana, XRP, and Dogecoin saw $64.2 million, $58.8 million, and $35.8 million in liquidations,
Resistance is building near $0.23, where profit-taking and heavy sell orders reappear.
The rally was likely driven by a large purchase in anticipation of future volatility, despite no immediate news catalyst.
Flow and positioning data suggest the recent crypto market correction may be running out of steam, with early signs of stabilization across ETFs and derivatives.