Analyzing why Bitcoin prices hold strong despite 40K BTC sell-off

Key takeaways

Bitcoin confronted intense sell-side stress this week, with over 40,000 BTC hitting exchanges and historic 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 latest peak close to $123,471.

What’s protecting the market from breaking? For one, whale and OTC desk flows stay energetic. Right here’s a better have a look at what’s driving the stress and the assist!

Funding Charges flatline as Bitcoin holds above $110K

Regardless of a wave of promote stress and huge spot inflows to exchanges, Bitcoin Funding Charges throughout main derivatives exchanges like OKX, Binance, and Bybit have remained flat to mildly optimistic.

Supply: CryptoQuant

This means a pause in extreme leverage and displays a extra balanced market. Liquidation knowledge backs this up – there’s little signal of pressured promoting.

Mixed, these indicators level to a market in consolidation mode, probably making ready for the following leg as soon as the summer time lull breaks.

Bybit Open Curiosity surges as value dips

Supply: Alphractal