IntoTheBlock data notes a drop in Bitcoin's key metrics: a 16% fall in large transaction volume, a 7.7% decrease in daily active addresses and a 114.6% decline in exchanges netflows.
Coinglass data highlights Bitcoin’s open interest at $33 billion, the highest in more than a week. In the past 24 hours, 37,524 traders were liquidated for $124.3 million.
Germany witnessed the largest outflows ($28.5 million) by any country, based on CoinShares report. Ethereum witnessed $61 million in weekly outflows this week, making it the worst-performing asset year-to-date in terms of net flows.
The SEC is suing California lender Silvergate in federal court for securities fraud.
Trader Notes: Crypto Quant founder & CEO Ki Young Ju saidthe Bitcoin market is "boring with less volatility." He noted less interest from both buyers and sellers but concluded, "We’re still in a bull cycle. Boring is an opportunity."
Another crypto trader predicts an incoming "monster move."
