Overview
- Bitcoin briefly traded in the high $89,000s during Tuesday’s U.S. session, extending a multi-day decline that followed a broader risk pullback.
- Forced unwinds accelerated across derivatives, with 24-hour liquidations reported between roughly $580 million and $709 million and heavily skewed toward long positions.
- U.S. spot Bitcoin ETFs recorded about $394.7 million in net outflows in the latest reading, while Ethereum spot ETFs saw roughly $4.64 million in inflows.
- Altcoins tracked the drop as Ethereum hovered near $3,000, Solana traded around $127–$128, XRP slipped to about $1.90–$1.97, and total crypto market value fell to roughly $3.1–$3.21 trillion.
- Traders focused on $90,000–$91,000 as key Bitcoin support, with some calling for deeper downside if it fails, even as institutional activity persisted with Strategy purchasing about $2.13 billion in BTC.