Bitcoin (BTC) fell back below $90,000 around the opening of Wall Street on Monday, as selling pressure returned in the U.S.
Key points:
Bitcoin's volatility continues, with U.S. selling pushing its price back below $90,000.
Amid unclear price movements, investors remain cautious, and market liquidation volumes remain stable.
In the past two weeks, signs of buying on dips have been observed across major exchanges.
Data from Cointelegraph Markets Pro and TradingView shows that as the traditional financial market trading week begins, Bitcoin's price movements remain highly volatile.
After breaking $92,000 during the Asian session, BTC/USD quickly lost upward momentum, missing the opportunity for a potential retest of the $93,500 year-to-date opening price.
"This is why you need to stay calm when Bitcoin is volatile. Some altcoins performed well today, but Bitcoin faced a strong rejection at key resistance levels," said crypto trader, analyst, and entrepreneur Michaël van de Poppe on the X platform.
Van de Poppe expressed hope that Bitcoin could form higher lows next, emphasizing that $86,000 is an important level.
"What if higher lows do not appear?" he continued to question this scenario.
Trading firm QCP Capital noted that during the increase in volatility, the scale of liquidations remains "relatively mild."
"This reflects a significant reduction in positions, as overall interest in the crypto market continues to wane—whether due to fatigue, caution, or simple indifference while waiting for clearer direction," the firm wrote in the latest edition of its "Asia Color" market update.
According to monitoring platform CoinGlass, as of the time of writing, the total liquidation across crypto assets in the past 24 hours was $330 million.
Business intelligence firm Strategy announced another purchase of nearly $1 billion in Bitcoin, but this did not boost market confidence.
As reported by Cointelegraph, Strategy increased its holdings by 10,624 BTC last week, with an average purchase cost slightly above $90,000 per coin.
However, QCP stated that buying demand is not only coming from institutions; interest in Bitcoin and altcoins has also expanded to a broader user base across exchanges.
The firm noted that over 25,000 BTC have flowed out of exchange order books in the past two weeks. On-chain analysis platform Glassnode's data shows that the net outflow from exchanges during the same period is closer to 35,000 BTC.
The total amount of BTC currently held by Bitcoin ETFs and corporate treasuries has surpassed that of exchanges, indicating a significant shift in Bitcoin supply towards long-term custody, further tightening the circulating supply," added "Asia Color."
Related: "Another Halving in the Crypto Space": Bittensor's First Four-Year Cycle Seen as an Important Milestone Towards Maturity
Original: “Bitcoin Opens Below $90,000, Nearly 35,000 BTC Outflows from Exchanges in the Past Two Weeks”
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