The Currency analytics
By Sakamoto Nashi
Bitcoin crashed through $60,000 Monday. Traders can't figure out what's next as market signals turn murky and economic pressures mount across global markets.
The weekend brought harsh reality checks for crypto bulls when Bitcoin smashed below the $65,000 support wall Sunday evening.
Low volume trading made every move feel amplified as Bitcoin struggled to find stable ground in the low $60,000s.
Derivatives markets paint a pretty grim picture too. Current volatility basically mirrors what's happening in traditional markets where uncertainty rules everything.
Michael Saylor's MicroStrategy bought another 592 BTC at an average price of $67,286 even as prices kept falling.
Technical analysts worry about what happens next. A failure to reclaim mid-$65,000s could send Bitcoin testing the $60,000 region hard, which might trigger panic selling from…
Bitfinex analysts see the derivatives market turning defensive. Per their latest report: "The derivatives market is now more defensive.
Nobody knows where Bitcoin heads from here. Market participants keep waiting for something concrete to happen, but catalysts remain scarce and trading conviction stays weak…
BitMEX data from February 24 showed open interest for Bitcoin futures dropped significantly.
Coinbase reported declining Bitcoin trading volume over the past week. When one of the biggest crypto exchanges sees less activity, it usually means retail traders are stepping…
Glassnode found more Bitcoin flowing onto exchanges, hitting levels not seen since early January. Coins moving to exchanges often signals potential selling pressure ahead.
CryptoQuant analysts noted that whales haven't moved much Bitcoin despite the recent volatility.
Binance saw stablecoin inflows increase on February 23. More stablecoins usually means traders are preparing to buy but waiting for better entry points.
Dan Held from Kraken called the current environment a "wait-and-see mode" for crypto markets.
February 25 brings major options expiration on Deribit that could inject volatility back into markets.