Since then, the price has seesawed around $83,000 resistance, as every sharp rally met an equally swift sell-off. By 1:30 p.m. ET, bitcoin hovered near $82,615, up 2.5% over 24 hours, pushing its market capitalization to nearly $1.66 trillion.

Derivatives activity shifted after Thursday’s flash crash, marked by fewer long liquidations and a rise in short forced closures. Data from Coinglass shows long liquidations totaled about $70 million across the crypto market versus $270 million Thursday, while short liquidations reached $157 million. Total liquidations across the market fell to $228 million from $1.1 billion about 24 hours prior.

Institutional Outflows Signal Persistent Selling Pressure

After seeing sustained inflows from late…