Bitcoin News
By Maheen Hernandez
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Macro Headwinds Aren't Helping. The macro backdrop is rough right now. April's Consumer Price Index came in hotter than expected —…
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ETF Outflows and Institutional Retreat. Institutional demand weakened noticeably. Bitcoin ETFs saw $1 billion in net outflows last week —…
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Long-Term Holders Still Accumulating. Not everyone's panicking. CEX.io reported that committed long-term holders accumulated roughly…
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Bitcoin cracked below $78,000 this week. Not a clean break, not a collapse — but enough to rattle traders watching the $76,000 level like hawks.
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Wintermute, the crypto market maker, said the drop followed a rejection near $82,000, and it's pretty much what you'd expect when an asset keeps bouncing off the same ceiling.
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And it did. Bitcoin's dip triggered $657 million in liquidations across major exchanges, the bulk of them long positions. Wintermute flagged that number directly.
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The macro backdrop is rough right now. April's Consumer Price Index came in hotter than expected — 3.8% year-over-year — and that's feeding straight into bond markets.
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Kevin Warsh's appointment as Federal Reserve Chair adds another layer of uncertainty. He's known for a hawkish stance, and traders are already pricing in what that might mean for…
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Global supply chain disruptions are still in the mix too, keeping inflation sticky and giving the Fed less room to pivot. It's a tough environment to sustain a rally in.
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More context: Bitcoin Drops Below $78,500 as Bears Tighten Grip on Price Action
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Wintermute also called out the leverage buildup more broadly. Traders chasing short-term moves piled in with high leverage, and that dynamic means any downward pressure can…
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The Bitcoin Days Destroyed metric, per the source data, shows long-term holders going quiet.
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Not everyone's panicking. CEX.io reported that committed long-term holders accumulated roughly 80,000 BTC over the past week. That's a substantial amount.
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That conviction matters. It's probably the main reason Bitcoin hasn't fallen harder. But conviction alone doesn't set a floor.
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CEX.io put the critical number at $76,250 — specifically tied to the 0.236 Fibonacci retracement level.
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