"$42 million sell-off storm hits, Binance's spot market suffers heavy losses"
Bitcoin recently fell below the $96,000 mark. According to monitoring of large transaction indicators, between 14:00 and 16:40, there was a large-scale sell-off in the Binance BTC spot market. During this period, a large holder liquidated approximately $42 million through market sell orders, with a net sell of about $30.7 million, causing market sentiment to come under pressure. However, the market did not decline comprehensively as a result; some bulls began to push back, and the main funds on Binance also engaged in bottom-fishing operations at lower levels.
It is particularly noteworthy that an ultra-large holder executed a massive buy order of $11.247 million near the $96,500 mark, indicating confidence in Bitcoin. However, the sell-off phenomenon has not completely ended, with the current key support level in the range of $95,500 to $95,000, and further support below at $94,300. The pressure level above is concentrated at $99,180, and breaking through this point could initiate a new round of increases.
The Bitcoin market is turbulent, but opportunities and challenges coexist. Investors need to closely monitor these key technical levels and accurately grasp market trends. If you don't want to miss more real-time analysis and market insights, be sure to follow Mr. Qiu's updates to keep up with the latest market pulses!
