Bitcoin drops under $86K as $2.78B in BTC whale selling overwhelms active dip buyers - Source: CoinTelegraph

Bitcoin dropped below $86,000 on Monday, continuing to expand on a liquidity imbalance as smaller participants continued to buy dips. Still, large holders were using the demand to exit positions, keeping downside pressure firmly in place.

Key takeaways:

• -Retail and mid-sized Bitcoin wallets purchased $474 million in cumulative buy-side volume, while whales sold $2.78 billion during the same period.

• -Short-term BTC holders continued to sell at a loss, a sign of capitulation, but a reversal has not been confirmed.

• -Bitcoin could re-test quarterly lows at $80,600 after invalidating its short-term bull trend.

Story continues: https://cointelegraph.com/news/bitcoin-slips-below-86k-as-2-78b-whale-selling-overwhelms-dip-buyers