Overview
- Bitcoin recovered to around $118,000 after dipping to its lowest since July 10, with the $115,000 support level holding firm.
- Total open interest in Bitcoin futures hit a record $44.5 billion, reflecting elevated leveraged trading that heightens volatility.
- Roughly $150 million of long Bitcoin positions were liquidated in 24 hours, contributing to over $586 million in derivatives wipeouts across crypto markets.
- Spot Bitcoin ETFs reversed a 12-day inflow streak with $285 million in outflows over three days, squeezing short-term price momentum.
- Galaxy Digital sold all 80,000 BTC for a client in one of crypto’s largest notional transactions, and on-chain data showed 40,000 BTC flooding centralized exchanges in a single day.