Bitcoin's price has seen significant fluctuations, with the cryptocurrency reaching $69,000 on Tuesday and maintaining that level today. However, there is notable selling pressure, with longs being wiped out and squeezed under spot selling pressure. The lowest perpetual premium since Bitcoin was at $66,000 has been observed on Binance perps. Bitcoin is currently less than $5,000 away from a key level, and there is a need for spot absorption to establish a local low. Institutional demand for digital assets remains a topic of interest.
$BTC longs wiped out here would want to see some spot absorption here to get a local low https://t.co/hKp6cllcZN https://t.co/joW9amKEuR
Like, if you think #Bitcoin is the next world reserve currency. https://t.co/DLVCiEAk2d
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WHO THE FUCK IS SELLING BITCOIN ? https://t.co/Fh306Xoqvm
$BTC 69K Tuesday $BTC 69K today https://t.co/MO0Z4WUweK
It's fine #crypto https://t.co/fnpZUGEviy
Bitcoin < 69k 5k to go https://t.co/vq2vK7afLq
https://t.co/0AKPCwWEIj https://t.co/Rzp4nWpv7S
looking at #BTC graph https://t.co/BoRamYiVJy
.@mikebelshe joined @KitcoNewsNOW's @MichelleMakori to chat about all things #Bitcoin, the Fed and economic outlook, and institutional demand for digital assets. Watch below 👀 https://t.co/ho63SVwRxZ
lowest perp premium since $66K on binance perps $BTC
$BTC longs getting squeezed here under spot selling pressure probably see some big liqs a bit lower https://t.co/rYkMhxu41d https://t.co/bkneiVA6pV
Nervous yet bulltards? Keep doubting me $BTC https://t.co/t4Xhvrpqh6 https://t.co/d0iSRpZy7e