$BitMine Immersion Technologie-To The Moon - Tiger Brokers Online Investing Community - To The Moon

$BitMine Immersion Technologies Inc.(BMNR)$$iShares Bitcoin Trust ETF(IBIT)$ Bitcoin crumbles below $109K, but data shows buyers stepping in

Bitcoin price tumbled toward new lows below $109,000 and while charts suggest the sell-off is far from over, data shows spot buyers accelerating their accumulation.

Throughout the past week, traders have stepped in to buy intra-day lows, but liquidation heatmap data from Hyblock shows a liquidation cluster composed of leveraged long positions at risk of absorption from $111,000 to $107,000.

In addition to the downside liquidation risk, activity in perpetual futures markets continues to drive Bitcoin’s day-to-day price action, and heavy selling from the institutional investor-sized cohorts (1,000 to 10 million) continues to overwhelm the spot purchasing seen among retail-investor-sized (100 to 1,000) orders.

Key points 🛎️

Ethereum dropped below $4,000, breaking a two-month support level and sparking volatility across the market.

A single whale trader lost over $45 million after their 9,152 ETH long position was fully liquidated.

Over $1.7 billion in altcoin liquidations occurred during the downturn, with Ethereum accounting for more than $212 million.

Despite the price crash, exchange withdrawals and on-chain data suggest investor accumulation, not panic selling.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Ron Anne
09-28
Ron Anne
BMNR holds 207k ETH—this $4k drop just erased ~$828K of its treasury fast.
Wade Shaw
09-28
Wade Shaw
Retail’s buying Bitcoin dips, but institutional selling’s still driving the downturn.
EVBullMusketeer
09-28
EVBullMusketeer
Hodl tight lah – spot buyers gobbling dips while big boys dump futures

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Throughout the past week, traders have stepped in to buy intra-day lows, but liquidation heatmap data from Hyblock shows a liquidation cluster composed of leveraged long positions at risk of absorption from $111,000 to $107,000. In addition to the downside liquidation risk, activity in perpetual futures markets continues to drive Bitcoin’s day-to-day price action, and heavy selling from the institutional investor-sized cohorts (1,000 to 10 million) continues to overwhelm the spot purchasing seen among retail-investor-sized (100 to 1,000) orders. Key points 🛎️ Ethereum dropped below $4,000, breaking a two-month support level and sparking volatility across the market. A single whale trader lost over $45 million after their 9,152 ETH long position was fully liquidated. Over $1.7 billion in altcoin liquidations occurred during the downturn, with Ethereum accounting for more than $212 million. 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