Bitcoin has fallen below $65,000, leading to over $140 million in liquidations. The primary selling pressure originates from Coinbase, indicating institutional investors are offloading their holdings. Additionally, extended miner capitulation and declining large dollar transaction volumes contribute to the bearish sentiment. Miner capitulation, where miners sell Bitcoin to cover operational costs, and the increased dominance of bearish addresses suggest ongoing selling pressure, despite some potential for future recovery.

Source: https://0xzx.com/zh-tw/2024062208124557317.html