In brief
- Bitcoin dropped to lows of beneath $95,000 Friday, amid waning demand and increased sell pressure.
- Derivatives data shows sellers dominating the market as the Coinbase premium turns negative.
- Experts suggest that crypto may be in a bear market, but macro and regulatory clarity, coupled with on-chain strength, will determine if this outlook can change.
Massive exchange-traded fund outflows, declining institutional and retail spot appetite, and increased selling pressure from whale activity have investors questioning whether crypto is in a bear market.
Bitcoin dropped below $95,000 Friday morning, down 8% on the day and over 24% since its record peak of $126,200 just five weeks ago, according to CoinGecko data. In the past 24…
