Bitcoin gives up $90K at US open as two-week exchange outflows near 35K BTC
Bitcoin dropped below $90,000 at the US market open amid renewed selling pressure, even as exchange outflows neared 35,000 BTC over two weeks.Summary
Bitcoin (BTC) fell below the $90,000 mark as US selling pressure returned during Monday's Wall Street open, failing to sustain a rally past $92,000 seen earlier in the Asia session. Analyst Michaël van de Poppe noted the harsh rejection at crucial resistance and is watching for a higher low to form, flagging $86,000 as a critical support level before a potential retest of the lows.
Despite the price volatility, liquidations remained relatively modest, suggesting reduced positioning as broader crypto interest wanes. Furthermore, on-chain data from Glassnode indicates that exchange outflows over the past two weeks approached 35,000 BTC, signaling a supply migration into longer-term custody, with Bitcoin ETFs and corporate treasuries now holding more BTC than exchanges combined. This tightening available float was underscored by thin market depth during Sunday's moves as year-end liquidity thinned.
(Source：Cointelegraph)