$ALLO $BEAT $VELVET ๐ฑ BTC tanked 14% this week due to futures. ๐
The volumes in the derivatives market are currently 10 times higher than spot. On Binance, where 38% of the open interest is concentrated, the daily sales volume reached $15 billion compared to an average of $4.4 billion.
Long positions triggered a wave of liquidations โ almost like last year's correction on the back of leverage.
Additionally, there were outflows from ETFs totaling $1.75 billion โ marking the largest weekly drop since April 2025.
Meanwhile, the leverage metrics have normalized, and on Polymarket, the sentiment has improved: the probability of BTC dropping to $55K has decreased to 26%, while the chance of it rising to $70K has increased to 28%.
#btcdown #BTCโ
The volumes in the derivatives market are currently 10 times higher than spot. On Binance, where 38% of the open interest is concentrated, the daily sales volume reached $15 billion compared to an average of $4.4 billion.
Long positions triggered a wave of liquidations โ almost like last year's correction on the back of leverage.
Additionally, there were outflows from ETFs totaling $1.75 billion โ marking the largest weekly drop since April 2025.
Meanwhile, the leverage metrics have normalized, and on Polymarket, the sentiment has improved: the probability of BTC dropping to $55K has decreased to 26%, while the chance of it rising to $70K has increased to 28%.
#btcdown #BTCโ