💰 There is strong selling pressure at the $66,000 to $67,000 range.

I anticipate it will drop back to around $59,000.

🆘🆘🆘 $200 million+ outflow from MicroStrategy wallet

@News_Crypto | link

💰 Bitcoin fell from $69,000 as expected to $59,000. During this drop, the highest selling volume in the last two years was recorded, and the market cap of BTC ETFs decreased by $54 billion to $50 billion.

This is a clear indication of bearish sentiment. Additionally, some of the long-term holders from 2010 took profits at $69,000, according to Glassnode.

If bitcoin falls below $59,000, there could be another wave of "Cascading Liquidations" down to $50,000 due to high leverage positions, early investors taking profits, and selling pressure from ETFs.

💰 Short-term holders, investors who have held Bitcoin for less than 155 days, transferred 65,000 Bitcoins in profit to exchanges on Mar. 6.

According to data from Glassnode, this marks one of the highest amounts of profit sent in Bitcoin terms in the past five years.

Closing above the highs might take longer time.