Bitcoin’s steep decline fueled by short-term holdersHigh-frequency traders and day traders rile Bitcoin market as prices plummet.Happy α Sunday 💪⛓️🚀Our Sunday newsletter is dedicated to the recent content from CryptoSlate Alpha, the web3 membership designed to empower you with cutting-edge insights and expert knowledge. Built on top of Access Protocol, Alpha is incredibly easy to join — you only need a Solana self-custody wallet and a small amount of ACS tokens to stake, which will grant you access to all research and reports. For more information, see more about CryptoSlate Alpha. 🚀Are you a Web3 marketer? Join our new Web3 Marketing Insights channel here https://t.me/cryptoslate_web3. We’ll be sharing tips, strategies, and special announcements to help web3 marketers level up their game. 📖 α Weekly ResearchBitcoin’s steep decline fueled by short-term holdersHigh-frequency traders and day traders rile Bitcoin market as prices plummet. Bitcoin ETFs witness record $937.9 million outflow amid investor uneaseFidelity and BlackRock led the historic Bitcoin ETF outflow. α Top Insights📖More α ResearchFutures market sheds $2.24B in OI after Bitcoin’s drop to $88kCME's substantial reduction in OI shows institutions are cautious amid Bitcoin's volatile downturn. Bitcoin’s short-term holder realized price remains a critical support amid market volatilityThe cost basis set by short-term holders has historically acted as the strongest support for Bitcoin's price. Bitcoin price steadies as large holders curb profit-taking in FebruaryThe flattening of profits among major Bitcoin holders means less pressure on Bitcoin's price. |
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