Panic Sell? Bitcoin’s $86K Fall Wipes Out $1 Billion In Trades

Bitcoin’s price fell to $86,099 on February 26th, wiping out almost $1.06 billion from crypto’s market cap and sending ripples across the industry. According to Coinglass tracking, around 230,000 positions have been liquidated for the day. Related Reading: Coinbase CEO’s Hot Take: Bitcoin Is Basically A ‘Meme Coin’ As a sign of bearish sentiment, the digital asset’s open interest has dipped to 5%, reflecting deleveraging among investors and holders. On-chain data also suggests that exchange inflows surged to 14.2%, potentially suggesting panic selling among holders. Furthermore, funding rates are now in negative territory, indicating investors’ sentiments have shifted. Massive Losses For Holders As BTC Tests $86K As the world’s top digital asset, Bitcoin’s adverse price action caused plenty of ripples in the industry. With its price testing below $90k, thousands of positions were liquidated, and strong withdrawals from spot Bitcoin ETF funds were recorded. According to multiple reports, the five-day outflow for ETFs amounted to $1.1 billion, with $516 million lost on February 24th. In a Twitter/X post, InTheBlock noted that around 12% of all BTC addresses are in the red. The post added that it’s now the highest unrealized loss percentage for Bitcoin since October 2024. With Bitcoin briefly dropping below $90k, roughly 12% of all Bitcoin addresses are holding at a loss.

Feb 26, 2025 - 20:13

Panic Sell? Bitcoin’s $86K Fall Wipes Out $1 Billion In Trades

Bitcoin’s price fell to $86,099 on February 26th, wiping out almost $1.06 billion from crypto’s market cap and sending ripples across the industry. According to Coinglass tracking, around 230,000 positions have been liquidated for the day.

As a sign of bearish sentiment, the digital asset’s open interest has dipped to 5%, reflecting deleveraging among investors and holders. On-chain data also suggests that exchange inflows surged to 14.2%, potentially suggesting panic selling among holders. Furthermore, funding rates are now in negative territory, indicating investors’ sentiments have shifted.

Massive Losses For Holders As BTC Tests $86K

As the world’s top digital asset, Bitcoin’s adverse price action caused plenty of ripples in the industry. With its price testing below $90k, thousands of positions were liquidated, and strong withdrawals from spot Bitcoin ETF funds were recorded. According to multiple reports, the five-day outflow for ETFs amounted to $1.1 billion, with $516 million lost on February 24th.

In a Twitter/X post, InTheBlock noted that around 12% of all BTC addresses are in the red. The post added that it’s now the highest unrealized loss percentage for Bitcoin since October 2024.