The market is absorbing enormous selling pressure with little movement

On-chain metrics show that the market managed to absorb extremely high selling pressure in the face of Bitcoin ETF-induced volatility.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

The volatility caused by the launch of spot Bitcoin ETFs in the U.S. has wiped over $115 billion off Bitcoin’s market cap. There has been a significant increase in realized losses in the week following the ETF launch, with short-term holders bearing the brunt of these losses. Significant outflows from Grayscale’s GBTC have led to […]