For the first time since 2021, BTC dropped below $67,400 driven by breaking the support at 72,000 and forced selling pressures in the derivatives markets.
Whale escape data observed defensive liquidity exiting from major holders like World Liberty Fi, reflecting institutions' desire to reduce risks.
As shown in the chart, the NUPL index's slide into the negative area indicates a shift from traders' profits to losses, which is a historical pattern preceding capitulation phases.
The continued failure to reclaim the $70,000-$72,000 area opens the door for a deeper downward wave amidst a prevailing bearish market structure.
BTCUSDT
Perp
65,668.6
-2.97%