BTC Price Holds Steady During a Wave of Sell Pressure ; Altcoin Prices Slide
The bitcoin price is little changed over the past 24 hours despite a wave of sell pressure across multiple crypto exchanges. Lookonchain revealed that one long-term holder shifted a $228 million stack of bitcoin to Kraken, while bitcoin miner MARA Holdings (MARA) transferred $58 million worth of BTC to Falcon X and Coinbase Prime.
The market absorbed this increased level of supply as trading volume for BTC increased by 5% to $81 billion.
The altcoin market underperformed bitcoin. Ether tumbled by 3.4% alongside several other tokens, some of which, including canton (CC), fell by more than 10%.
Derivatives positioning
- Over $600 million worth of leveraged crypto futures positions have been liquidated in the past 24…
