The Global crypto markets are dealing with heavy selling pressure after last week’s sharp selloff. Signs have emerged that institutional demand has faded, and US-based investors continue to drive selling. Bitcoin price is hovering around $70,000, while the cumulative crypto market cap looks stuck around $2.35 trillion.
Wintermute, in a fresh report, stated that its internal over-the-counter flow data showed US counterparties were heavy sellers throughout the week. The firm also noted that the so-called Coinbase premium stayed in negative territory during the entire downturn. That pattern has held since December, and it points to ongoing US selling pressure rather than isolated liquidation events.
