Bitcoin falls to around $63,000, with long-term holders selling at a loss accounting for over 65% of exchange inflows

Odaily reported that Bitcoin was priced at approximately $63,020 on Friday, down 1.7% on the day and 50% lower than the record high of $126,080 set in October. Bitcoin failed to hold above $65,000 on Wednesday, dropping to an intraday low of $62,640, breaking through the $64,500 Put Wall associated with this week's option expiry. 

Glassnode数据显示，over 65% of Bitcoin flowing into exchanges comes from long-term holders selling at a loss. The firm noted that this reading aligns with early bear market phases, during which this group dominated the sell-side until selling pressure gradually exhausted. 

Tim Sun, Senior Researcher at Hashkey, stated that the global equity pullback and accelerated deleveraging of semiconductor and AI-related assets have dampened market risk appetite and reduced institutional exposure to Bitcoin. He pointed out that the derivatives market does not show crowded leverage, with selling pressure concentrated in the spot market. After a net outflow of $425 million on Monday, U.S. spot Bitcoin ETFs saw a net inflow of $181 million on Tuesday and $108 million on Wednesday. Related funds have attracted cumulative inflows of approximately $51 billion since their launch in 2024. (Decrypt)