23.06.2025 22:27
In a dramatic 24-hour period, Bitcoin's short-term holders relinquished a substantial 17.8k BTC, highlighting a significant shift in market sentiment. This sell-off coincided with Bitcoin briefly dipping to a local low of $98,000 before recovering slightly to around $101,000. Geopolitical anxieties, fueled by escalating global tensions, appear to be the primary catalyst for this aggressive selling pressure.
Data from CryptoQuant reveals the extent of this market downturn. Analyst Axel Adler noted a substantial surge in selling activity, with 14.7k BTC sold at a loss as the price fell below the crucial $100,000 mark, indicating panic selling among some investors. Conversely, 3.1k BTC were sold at a profit on centralized exchanges during the same period. The net effect was a realized loss of 11.6k BTC for short-term holders.
This massive selling spree dramatically impacted investor sentiment. CryptoQuant's Advanced Sentiment Index plummeted to -20%, its lowest point in a month, signifying a surge in bearish sentiment. This negative sentiment was further amplified by a deepening negative delta in taker order volume and a decline in open interest, forcing traders to unwind leveraged positions, resulting in significant liquidations; notably, 2.6k BTC in long positions were liquidated.
While the market initially exhibited strong bearish pressure, a degree of recovery emerged as Bitcoin reclaimed the $101,000 level. The Advanced Sentiment Index rebounded to -37%, and the volume delta showed some signs of easing, indicating a potential stabilization. However, the volume delta remained in negative territory, suggesting that the recovery was only partial and investor confidence remained fragile.
Despite the ongoing uncertainty, a cautious buying trend has begun to emerge. Investors, sensing an oversold condition, are selectively purchasing Bitcoin, seeking to profit from the recent price correction. This suggests a potentially volatile period ahead, with the market's direction remaining dependent on both geopolitical developments and overall investor sentiment. Further observation is needed to confirm whether this represents a genuine market rebound or a temporary reprieve.
