Cointime

Cointime

Download App
iOS & Android

Bitcoin holds $95K support despite heavy selling pressure

Cointime Official

From cointelegraph by Zoltan Vardai

Bitcoin is steadily trading above the key $95,000 psychological support despite one of the largest intraday selling events since 2022.

Bitcoin’s price staged a significant reversal after it briefly bottomed at an over one-week low of $94,726 on Feb. 9, Cointelegraph Markets Pro data shows.

BTC/USD, 1-month chart. Source: Cointelegraph

Bitcoin proved significant price resilience, considering that it witnessed the largest daily selling pressure since the collapse of Three Arrows Capital (3AC), according to André Dragosch, head of research at Bitwise Europe.

The research lead wrote in a Feb. 10 X post:

“We have just reached the highest amount of selling pressure on Bitcoin spot exchanges since the collapse of 3AC in June 2022. Yet, the price is still close to $100,000.”

Bitcoin’s price resilience may signal “seller exhaustion,” added the researcher.

  BTC: Intraday spot buying minus selling volume. Source: André Dragosch

The collapse of 3AC, a Singapore-based crypto hedge fund that once managed over $10 billion worth of assets, sent shockwaves through the cryptocurrency market in 2022.

3AC exchanged roughly $500 million worth of Bitcoin with the Luna Foundation Guard or the equivalent fiat amount in LUNC just weeks before Terra imploded.

The series of liquidations for 3AC had a catastrophic impact on crypto lenders such as BlockFi, Voyager and Celsius. Many of the crypto lenders had to eventually file for bankruptcy themselves due to exposure to 3AC.

Related: Austin University to launch $5M Bitcoin fund with 5-year HODL strategy: Report

Bitcoin momentum hinges on $93,000 support due to $1.7 billion in liquidations

Bitcoin investor sentiment remains pressured by global trade war concerns following new import tariffs announced by the United States and China.

While Bitcoin temporarily fell below $95,000, a correction below the key $93,000 support may cause significant downside volatility due to the growing crypto market leverage.

  Bitcoin exchange liquidation map. Source: CoinGlass

A potential Bitcoin correction below $93,000 would liquidate over $1.7 billion worth of cumulative leveraged long positions across all exchanges, CoinGlass data shows.

Related: Kentucky joins growing list of US states to introduce Bitcoin reserve bill

A correction below the $93,000 support level may trigger a further decline to $91,500, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.

Escalating trade war tensions could increase economic certainty, which may push Bitcoin below $90,000 in the short term, despite Bitcoin’s status as a hedge against traditional finance volatility.

Meanwhile, market participants await President Donald Trump’s upcoming discussions with Chinese President Xi Jinping, which are aimed at resolving trade tensions and avoiding a full-scale trade war.

Trump was scheduled to meet President Jinping on Feb. 11, but reports citing unnamed US officials suggest that the meeting would be delayed, according to a Feb. 4 WSJ report.

Comments

All Comments

Recommended for you

  • BTC Surpasses $76,000

    Market data shows that BTC has surpassed $76,000, currently priced at $76,039.83, with a 24-hour increase of 1.67%. The market is highly volatile, so please ensure proper risk management.

  • Trump: Bombs Will Explode if Ceasefire Agreement Expires

    On April 20, according to PBS, U.S. President Trump stated on Monday that if the ceasefire agreement with Iran expires on Tuesday, there will be a large number of bombs exploding. Trump made this remark during a call with White House reporter Liz Landers, focusing on the issue of the Iran war, while a U.S. delegation was preparing for further peace negotiations. When asked whether Iran would still participate in the talks scheduled to take place in Islamabad, Trump replied, "I don't know. I mean, they should show up. It's arranged. We'll see if they come. If they don't, that's fine too." When asked about his expectations for the negotiations, Trump stated, "Very simple, Iran absolutely cannot have nuclear weapons."

  • U.S. Vice President Vance and Delegation to Arrive in Islamabad Today

    On April 20, according to the New York Post: U.S. Vice President Vance and the American delegation will arrive in Islamabad today.

  • BitMine Increases ETH Holdings by Over 100,000, Total Holdings Exceed 4.97 Million ETH

    As of April 19, Eastern Time, BitMine's total cryptocurrency and cash holdings, including the 'Moon Landing Plan,' amount to $12.9 billion. BitMine holds 4,976,485 ETH (an increase of 101,627 ETH from last week), which represents 4.12% of the total Ethereum supply of 120.7 million ETH. Additionally, it holds 199 BTC, shares in Beast Industries worth $200 million, $107 million in Eightco Holdings (NASDAQ: ORBS), and $1.12 billion in unsecured cash. As of April 20, 2026, the total amount of staked ETH by BitMine is 3,334,637 ETH, valued at $7.7 billion based on a price of $2,301 per ETH.

  • Strategy Acquires 34,164 Bitcoins for $2.54 Billion Last Week

    On April 20, Strategy purchased 34,164 Bitcoins last week for a total of approximately $2.54 billion, at a unit price of about $74,395, achieving a 9.5% return on Bitcoin from 2026 to date. As of April 19, 2026, Strategy holds a total of 815,061 Bitcoins, valued at approximately $61.56 billion, with a unit price of about $75,527.

  • Binance Wallet to Launch 46th TGE Project OpenGradient (OPG)

    On April 20, Binance Wallet will launch the 46th exclusive TGE project OpenGradient (OPG). The subscription period is from April 21, 17:00 to 19:00 (UTC+8), and users must participate using Binance Alpha Points and meet the corresponding qualifications. According to the official announcement, OPG tokens will be available for collection and trading starting at 19:00 (UTC+8) on the same day. Additionally, 23,000,000 OPG tokens are reserved for future activities, with specific rules to be announced later.

  • CoinShares: $1.4 Billion Inflows into Digital Asset Investment Products Last Week

    On April 20, CoinShares reported that inflows into digital asset investment products reached $1.4 billion last week, marking the highest weekly inflow since January and achieving positive growth for the third consecutive week. Bitcoin saw inflows of $1.116 billion, bringing the total inflows for the year to $3.1 billion. The price of Bitcoin has surpassed the $76,000 mark, indicating a significant technical breakthrough after two months of range-bound trading. In contrast, inflows into Bitcoin short products were only $1.4 million, suggesting that while there is still hedging demand, it remains limited. Ethereum attracted $328 million in inflows, the strongest week since January, bringing its total inflows for the year to $197 million, while XRP and Solana recorded outflows of $56 million and $2.3 million, respectively.

  • Sources: Bank of Japan Unlikely to Raise Interest Rates in April Meeting

    On April 20, sources familiar with the Bank of Japan's thinking revealed that the central bank is unlikely to raise interest rates next week. The diminishing hope for a swift end to the Middle East conflict has left Japan's economic and price outlook fraught with uncertainty. Although the final decision still carries some uncertainty and will depend on the progress of peace negotiations between the U.S. and Iran, the sources indicated that the bank prefers to maintain the status quo this month to allow more time to assess the impact of the conflict. One source stated, 'Given the current level of uncertainty, the Bank of Japan may consider it feasible to hold steady this month.' Another source echoed this sentiment. A third source noted that the Bank of Japan is unlikely to raise rates, as the market has already fully priced in the possibility of no rate hike this month. These sources mentioned that even if the Bank of Japan keeps rates unchanged next week, it is likely to signal readiness to raise rates as early as June, given the escalating inflationary pressures.

  • Hong Kong SFC Announces New Regulatory Framework for Trading Tokenized Investment Products in Secondary Market

    On April 20, the Hong Kong Securities and Futures Commission (SFC) announced a new regulatory framework to promote the trading of tokenized investment products recognized by the SFC in the secondary market, aiming to enhance digital asset trading activities in Hong Kong and support the further development of the ecosystem. The first batch of products is expected to primarily consist of tokenized money market funds. The SFC will review the operation of these products and will consider expanding the range of products in due course.

  • Stephen Katte ·

    Hackers impersonated eth.limo team to hijack its domain: Post-mortem

    EasyDNS CEO Mark Jeftovic said the social engineering attack was highly sophisticated and the company is conducting further investigation to determine how the breach occurred.

    Hackers impersonated eth.limo team to hijack its domain: Post-mortem

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company