Bitcoin fudged the breakout to $93,000 as global TradFi markets stumbled and 
BTC spot investors failed to provide the necessary volume.

Bitcoin’s lack of price strength due to sheepish spot buyers: What happens next?

Bitcoin is fighting to reclaim the $90,000 level after a sharp drop earlier 
today, adding fuel to growing fears of a deeper downtrend. Market sentiment 
has weakened noticeably, with selling pressure intensifying across spot and 
derivatives markets. Traders remain cautious as liquidity thins and volatility 
increases, creating an environment where even minor inflows can trigger 
outsized price reactions. The recent rejection below $90K highlights the 
fragility of the current structure and raises questions about whether Bitcoin 
is entering a more prolonged corrective phase. Related Reading: Bitcoin Must 
Break Key Supply Clusters To Regain ATH Momentum – Watch These Levels However, 
beneath the surface, on-chain data reveals a striking counter-signal. 
According to On-Chain Mind, Bitcoin is currently printing the largest hidden- 
buying spike of the entire cycle. Order flow analysis tracks the relationship 
between actual buy/sell pressure and the corresponding price movement. When 
the two do not align, hidden divergences emerge: positive divergences indicate 
aggressive buying despite muted price action, while negative ones reflect 
stealth selling. The size of this hidden-buying spike suggests a major 
imbalance in favor of buyers—an early sign that large players may be quietly 
accumulating while the broader market focuses on the decline. Whether this 
hidden demand can offset the prevailing sell pressure will determine Bitcoin’s 
next decisive move. Hidden Buying Supports Reversal Narrative Despite Macro 
Fear According to On-Chain Mind, the persistent hidden-buying spike remains 
one of the strongest signals favoring a future upside reversal. Even after 
Bitcoin’s most recent drop, the imbalance between real buying pressure and 
price action suggests that large players are still absorbing supply. While 
this type of signal does not guarantee an immediate rebound—and may take 
several weeks to fully materialize—it indicates that buyers have not exhausted 
their resources. Historically, such divergences appear near cyclical 
inflection points, when sentiment is weakest, but accumulation quietly 
strengthens beneath the surface. This constructive signal emerges at a time 
when fear in the market is amplified by external narratives. Renewed headlines 
about a China Bitcoin ban, despite being recycled and lacking substantive 
policy updates, have resurfaced across social media, contributing to confusion 
and short-term panic. Similarly, fresh waves of Tether FUD—focused on reserve 
transparency and regulatory scrutiny—have pressured liquidity conditions and 
fueled risk-off behavior. Together, these storylines have exaggerated bearish 
sentiment, overshadowing the more nuanced on-chain developments. While retail 
reacts to alarming headlines, order flow data suggests that sophisticated 
investors are taking the opposite stance. If hidden accumulation continues, 
this correction may ultimately resolve with a stronger recovery than current 
sentiment implies. Related Reading: Bitcoin STH Loss Transfers Fall 80% From 
Peak – What Comes Next? Bitcoin Attempts to Stabilize After Sharp Breakdown, 
but Trend Remains Fragile Bitcoin’s 1-day chart reflects a market still under 
heavy corrective pressure following the steep decline from the $110,000 
region. The breakdown sliced through the 50 SMA and 100 SMA with little 
resistance, signaling a decisive shift in momentum. Price is now hovering 
below both moving averages, which have begun to curl downward—an early sign 
that the medium-term trend has weakened. The 200 SMA around the $109,000 zone 
sits far above the current price, underscoring how aggressive the correction 
has been. After reaching a local low near $83,000, BTC has attempted to 
rebound, but the reaction remains modest. The latest bounce failed to reclaim 
$90,000 convincingly, forming a lower high that aligns with bearish 
continuation. Related Reading: XRP Reserves On Binance Collapse To Record 
Lows: Investors Move Toward Long-Term Holding Volume spikes during sell-offs 
reinforce the dominance of sellers, while buying activity remains 
comparatively muted. Until BTC can flip the 50 and 100 SMAs back into 
support—now clustered around $101,000–$108,000—bulls will struggle to regain 
control. The chart also shows increasing distance between price and the 200 
SMA, a condition that often precedes temporary relief rallies. However, unless 
Bitcoin closes back above the $95,000–$98,000 region, downside risks persist. 
For now, BTC is attempting to stabilize, but the broader trend continues to 
favor caution. Featured image from ChatGPT, chart from TradingView.com

Bitcoin Flashes Largest Hidden-Buying Spike of the Cycle Despite Losing $90K Level

XRP balances on major cryptocurrency exchanges have declined sharply in recent 
weeks, a shift analysts attribute to the growing influence of newly launched 
spot ETFs rather than traditional accumulation by long-term holders.

XRP goes into ETF mode: Less on exchanges, altering market dynamics

Jordan is set to lift its ban on cryptocurrency trading, with the Jordan 
Securities Commission confirming that a comprehensive digital asset regulatory 
framework will be ready before the end of the year. Shift from Prohibition to 
Regulation Jordan is moving to lift its ban on cryptocurrency trading, with 
the government and the Jordan Securities Commission […]

Jordan to Lift Crypto Trading Ban, Launch Regulatory Framework by Year-End

On CNBC, Tom Lee points to a market that he says is dramatically 
underestimating what happens when liquidity flows back, fund managers panic- 
buy, and the Federal Reserve pivots from years of tightening.

Cryptocurrency price in DKK