Bitcoin fell to about $63000 Long-term holders lost more than 65% of exchange inflows

Bitcoin traded at around $63020 on Friday, down 1.7% during the day and 50% below the record of $126080 set in October. Bitcoin failed to hold on to $65000 on Wednesday, falling to $62640 intraday, falling below the $64500 PutWall associated with options expiring this week. Glassnode data shows that more than 65% of bitcoins flowing into exchanges come from long-term holders selling at a loss. The agency said the reading was consistent with the early bear market stage, when this group dominated sellers until selling pressure gradually dissipated. Tim Sun, a senior researcher at Hashkey, said that the global stock correction and accelerated deleveraging of semiconductor and AI-related assets have cooled market risk appetite and reduced institutions 'exposure to Bitcoin. He pointed out that the derivatives market did not show congestion in leverage, and selling pressure was mainly concentrated in spot. After a net outflow of $425 million on Monday, the U.S. spot Bitcoin ETF had a net inflow of $181 million on Tuesday and $108 million on Wednesday. The relevant funds have attracted approximately US$51 billion in funds since their launch in 2024.