Bitcoin’s Drop to $60K Didn’t Come From Leverage or Exchanges—So Where Did It Come From?

💡 DMK Insight

Bitcoin’s dip to $60,000 is more than just a number—it’s a signal of shifting market dynamics. The spike in ETF trading activity, particularly around BlackRock’s spot Bitcoin ETF, suggests institutional interest is heating up, even as exchange liquidations remain low. This could indicate that traders are positioning themselves for a potential rebound, but it also raises questions about market sentiment. If Bitcoin can hold above $60,000, it might attract more buyers, especially with the ETF buzz fueling speculation. Watch for resistance around $62,000; a break above could trigger a wave of buying. But here’s the flip side: if Bitcoin fails to maintain this level, we could see a rapid sell-off as traders cut losses. Keep an eye on the volume of ETF trades as a leading indicator—high volumes could signal strong institutional support, while low volumes might suggest a lack of conviction. Timing is crucial here; monitor the daily charts closely for any signs of reversal or continuation patterns.