- Bitcoin records $1.8 billion in sell volume
- Bitcoin sellers dominate market
The crypto market has continued to face a series of repeated corrections with a mild short-term rebound. The frequent market downturn has seen Bitcoin’s sell volume surge significantly, according to data from crypto analytics platform CryptoQuant.
After the recent price breakout that saw Bitcoin trade near the $70,000 mark, the market is back to the red territory and Bitcoin slid back to $63,000.
While the crypto market is currently experiencing another wave of panic selling, the volatility this time is attributable to the rising tensions between the United States and Iran.
HOT Stories
Crypto Market Review: Bitcoin’s $70,000 Guarded Like Treasure, Will Shiba Inu Have Bullish March? Ethereum Breaks Above 100-Day Threshold
XRP Volume Rises 212%, Bitcoin ETFs Back in Demand With $506 Million, Dogecoin Price Reclaims $0.10 — U.Today Crypto Digest
Bitcoin records $1.8 billion in sell volume
On Saturday, Feb. 28, the platform revealed that Bitcoin recorded about $1.8 billion in sell volume within just one hour. This massive sell activity flooded the derivatives market as traders rushed to offload positions amid the sudden market correction.
Notably, the sudden spike reflected aggressive market sell orders hitting order books, signaling growing fears as traders begin to take caution.
While the market saw positive momentum days earlier, the shift in sentiment was swift. The platform shared charts revealing that Bitcoin’s key derivatives pressure index dropped sharply from 30% to 18%. This shows how quickly the mood turned strongly bearish.
The sudden flip is largely attributed to the macroeconomic pressure caused by the recent U.S. and Iran attack.
Bitcoin sellers dominate market
Following the sudden price flip, the data shows that sellers have dominated the market, and traders appeared to be more focused on limiting exposure than holding through uncertainty.
Nonetheless, market watchers have retained optimism as they believe that extreme one-sided positioning can sometimes create the conditions for a rebound.
As selling pressure continues to mount across the Bitcoin derivatives market, the Bitcoin open interest has been barely neutral over the last 24 hours.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Indiana Breaks Ground as First US State Approving Bitcoin Investment in Government Retirement Accounts
Indiana becomes the first U.S. state to allow bitcoin and crypto investments in public retirement plans, a bullish policy shift that expands digital asset adoption while protecting payments, mining, custody, and blockchain activity statewide.
Indiana Leads US States After Law Opens Public
Coinpedia8m ago
XRP Holds $1.40 as Bitcoin Rally and ETF Inflows Lift Crypto Market
Key Insights
XRP maintained support above $1.40 as the broader market rebounded, while strong inflows into Bitcoin ETFs helped restore trading confidence.
Bitcoin surged beyond $74,000 alongside gains in major altcoins, lifting total crypto market value close to $2.45 trillion in one
CryptoFrontNews10m ago
Glassnode: Bitcoin selling pressure has eased, but institutional demand remains in the testing phase
PANews March 6 News, Glassnode posted on X platform analyzing that the outflow trend of Bitcoin spot ETF funds has stabilized. The 14-day net flow trend has turned upward, indicating that as Bitcoin breaks through $70,000, selling pressure is easing. Institutional demand remains in a tentative stage, but early signs of reaccumulation are beginning to appear.
GateNews34m ago
These four charts indicate that the BTC price is forming a bottom.
Although Bitcoin (BTC) is currently trading 42% below its all-time high of $126,000, some technical signals suggest that the price range from $60,000 to $72,000 could become a significant support level, marking a new bottom before the market enters a sustainable recovery phase.
The BTC price dropped sharply to
TapChiBitcoin41m ago
