Why Bitcoin Couldn’t Break $80K Today Again
Explore our platform for exclusive crypto trading strategies and receive expert assistance with your cryptocurrency trades. Visit https://telegram.me/freebitmexsignals. A sudden $1.2 billion sell surge on Binance pushed Bitcoin below $78,000, amid derivatives dominance despite no clear news catalyst. Bitcoin faced a sharp pullback after approaching the $80,000 level, dropping about 2.5% over a few hours to fall below $78,000. According to Darkfost’s analysis, the move south occurred without a clear news catalyst, with selling pressure concentrated instead in the derivatives market. On Binance alone, roughly $1.2 billion in sell volume hit order books within a single hour, triggering the reversal. Derivatives Market Takes Control The findings reveal that across all exchanges, total selling pressure reached approximately $1.35 billion during the same period, and Binance was the main venue for initiating derivatives trades. The decline comes amid continuous negative funding rates, wh...