Bitcoin suddenly dips under $90K, triggering over $100M in long liquidations in past hour
Crypto Briefing
Bitcoin dropped below $90,000, causing over $100 million in long liquidations due to significant outflows from US spot Bitcoin ETFs.Summary
Bitcoin's price fell below the $90,000 mark early Thursday, leading to more than $100 million in long liquidations within the preceding hour. This price drop, which saw the asset down about 3% in 24 hours, coincided with substantial outflows from Bitcoin investment products. Specifically, US spot Bitcoin ETFs experienced $486 million in net redemptions on Wednesday, marking the largest single-day outflow since November 20th. While institutional demand has been a key driver for Bitcoin's recent price movements, analysts note that on-chain demand has not yet recovered sufficiently to sustain a rally toward $100,000, citing mixed sentiment and low trading volume.
(Source：Crypto Briefing)