CURRENT #BITCOIN SITUATION.

Is this a sign?

Here’s the Reason for $BTC recent drop in price: BTC Liquidations

⁃Futures trades betting on higher prices lost over $230 million in the past 24 hours.



⁃BTC and ETH-tracked futures saw over $60 million in long liquidations a piece, while products tracking DOGE, SOL, XRP, and Pepe coin (PEPE) recorded at least $4 million in losses.

🚨BTC ETF Outflows

⁃Spot bitcoin ETFs in the U.S. saw $20.45 million in net outflows yesterday.
⁃Nine funds, including BlackRock’s IBIT, had zero flows.

Grayscale’s GBTC reported daily net outflows of $26.99 million, countered by $6.55 million in net inflows from Fidelity’s FBTC.

The recent trading volume of the spot bitcoin ETFs is lower than in March when they saw a daily volume of around eight to 10 billion dollars.
The ETFs have accumulated a total net inflow of $14.62 billion since their January inception.

🚨Mt. Gox Repayments & Miners Sellofs

⁃Fears of sell pressure from Mt. Gox repayments and possible miner sales have also led to Bitcoin dropping below $59,000, with major tokens like ether and Solana's SOL also declining.

⁃Miners are still being extremely underpaid. This is one of the reasons they are selling their tokens.

🚨Germany’s Continued Selloffs

⁃Germany is one of the largest nation-state holders of Bitcoin.

⁃Over the past few weeks, the country’s government has transferred large amounts of $BTC $BTC changes summing to over 2,700 $BTC.⚠️

🚨Equity Markets

⁃BTC lost 3.3% in the past 24 hours, with the sell-off beginning shortly after Tokyo equity markets opened for trading.

⁃Major tokens declined amid the BTC weakness: Ether (ETH) slumped 4%, while Solana’s SOL, and dogecoin (DOGE) fell as much as 8%.


#VanEck_SOL_ETFS #MtGoxJulyRepayments #BinanceTournament #Megadrop $BTC