Futures Selling and Long Liquidations Pressure Bitcoin’s Recovery
Photo: TokenPost
Bitcoin (BTC) traded near $76,900 at 5:48 a.m. ET (10:48 UTC) Nov. 3 as futures selling and long liquidations pressured its recovery, adding to volatility. Spot-market purchases continued but did not absorb the selling, and traders remained cautious as liquidations added volatility. The price pressure came against a weak spot-demand backdrop. The 30-day spot-demand measure had turned negative as Bitcoin exchange reserves rose . The measure tracks direct purchases; futures are derivatives, so activity in futures does not establish equally strong buying in the spot market.
Source: TokenPost
