Bitcoin Drops Below $77K as Traders Turn Defensive
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Bitcoin fell below $77,000 from above $82,000 into the mid-$76,000 range as selling pressure intensified and traders shed risky positions; Glassnode reported Spot CVD plunged 848.7% and perpetual futures CVD dropped 278.7%. Weaker ETF demand and fading momentum across spot and futures markets pushed the crypto market defensive amid inflation, interest rate and Middle East tensions, while long-term holders remained relatively firm despite rising losses.
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- Bitcoin fell below $77K as selling pressure rose, and traders reduced risky market exposure.
- Glassnode data showed weaker ETF demand and fading momentum across spot and futures markets.
- Long-term Bitcoin holders stayed firm despite rising losses and broader market uncertainty.
Bitcoin dropped below $77,000 as weaker demand and heavy selling pressure pushed the crypto market lower. In a post on X, Glassnode shared data that shows Bitcoin falling from above $82,000 into the mid-$76,000 range as traders reduced risky positions and market momentum slowed.
Selling pressure intensified across both spot and futures markets. Glassnode reported that Spot CVD fell 848.7%, while perpetual futures CVD dropped 278.7%, pointing to strong sell-side activity. Investors also moved toward safer positions as concerns over inflation, interest rates, and tensions in the Middle East con…
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