Quick
Take

Bitcoin
experienced
a
notable
dip
earlier
today,
briefly
dropping
below
$67,000
to
a
low
of
approximately
$66,800,
marking
a
roughly
3%
decrease
over
the
past
24
hours.

According
to
data
from
Glassnode,
significant
spot-selling
activity
contributed
to
a
total
of
about
$200
million
in
selling
across
all
exchanges.
The
majority
of
this
selling
activity
came
from

 

Binance.
This
activity
is
measured
by
the
Spot
Cumulative
Volume
Delta
(CVD),
which
tracks
the
net
difference
between
buying
and
selling
volumes,
emphasizing
who—buyers
or
sellers—is
driving
the
market.

The
increased
selling
pressure
has
resulted
in
substantial
liquidations.

Coinglass
data
showed
that
$185
million
in
liquidations
occurred
within
the
last
24
hours,
with
$160
million
coming
from
long
positions.
Both
Bitcoin
and
Ethereum
have
experienced
significant
liquidation
impacts,
each
seeing
around
$50
million
in
total
liquidations
during
this
period.