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The market is absorbing enormous selling pressure with little movement The market is absorbing enormous selling pressure with little movement

The market is absorbing enormous selling pressure with little movement

with insights from Glassnode

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

The market is absorbing enormous selling pressure with little movement

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 Bitcoinโ€™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 Grayscaleโ€™s GBTC have led to […]