Bitcoin is enduring a multi-front assault on its spot market liquidity as exchange-traded funds, short-term speculators, and cryptocurrency miners simultaneously distribute assets.
This coordinated selling pressure has drained market demand at the fastest pace since the 2022 collapse of the Terra/Luna ecosystem.
As a result, BTC’s price has tanked 12% over the past week, pushing the top crypto towards the $60,000 level amid heavy hedging activities from market traders. BTC is exchanging hands at $64,036 as of press time, according to CryptoSlate’s data.
Yet, this spot-market flush has created a structural paradox that could still catapult BTC’s value.
The volume of selling has twisted the derivatives market into an increasingly lopsided shape where a record wall of short positions now anchors the market.
However, while traditional spot indicators point downward, any pause in selling could spark a mechanical short squeeze and turn the traders betting against Bitcoin into the forced buye
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