Overview
- Bitcoin slid as low as $88,000 on Wednesday and hovered near $89,000–$91,000, with K33 Research saying the nearly 30% drop over 43 days ranks among the worst corrections since 2017.
- Spot Bitcoin ETFs have swung to heavy redemptions this month, with roughly $2.5–$3.6 billion in outflows reported and BlackRock’s IBIT logging a record $523.2 million single‑day withdrawal.
- Derivatives stress intensified the move lower, with more than $559 million in leveraged positions liquidated in 24 hours, rising implied volatility, and a wider defensive 30‑day put skew, according to options desks.
- CryptoSlate reports Derive.xyz data showing traders now assign roughly 50% odds that Bitcoin ends 2025 below $90,000, reflecting a more defensive year‑end positioning.
- Ethereum fell roughly 20% over recent weeks to near $3,000 while holding long‑term technical support, and on‑chain data cited by Blockonomi shows long‑term addresses added about 17 million ETH in 2025.