Bitcoin drops under $86K as $2.78B in BTC whale selling overwhelms active dip buyers
Data shows traders bought the Bitcoin price dip, but $2.78 billion in selling by larger entities completely overshadowed the bulls. Can BTC hold above $86,000?
Bitcoin (BTC) dropped below $86,000 on Monday, continuing to expand on a liquidity imbalance as smaller participants continued to buy dips. However, large holders are using the demand to exit positions, keeping downside pressure firmly in place.
Key takeaways:
Retail and mid-sized Bitcoin wallets purchased $474 million in cumulative buy-side volume, while whales sold $2.78 billion during the same period.