Summary
- Bitcoin has experienced the largest selling pressure since the 3AC bankruptcy.
- The Consumer Price Index (CPI) announcement this week is expected to trigger significant volatility.
- Bitcoin is still maintaining around $100,000, suggesting seller exhaustion.
It has been reported that the largest Bitcoin (BTC) selling pressure on spot exchanges has occurred since the bankruptcy of Three Arrows Capital (3AC) in June 2022.
On the 9th (local time), Cointelegraph stated on X, "Bitcoin has experienced the largest selling pressure since the 3AC bankruptcy," adding, "It is nine times the annual average selling pressure." Furthermore, it was noted that the Consumer Price Index (CPI) announcement this week is expected to trigger significant volatility.
However, there was also a positive assessment of this indicator. Andre Dragos, head of research at Bitwise, mentioned on X, "Despite the large selling pressure, Bitcoin is still maintaining around $100,000," suggesting "seller exhaustion."
As of 9:07 PM, Bitcoin is trading at $97,788, up 1.19% from 24 hours ago, based on the Binance USDT market.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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