Bitcoin Price Plummets Amid Institutional Selling Pressure and Geopolitical Tensions

Bitcoin's price has been on a downward trend in recent days, reaching a monthly low of $76,020. According to crypto analytics platforms, the drop is largely attributed to institutional selling pressure, which has intensified in the past week. This selling pressure is reflected in the Coinbase premium, which has fallen to its lowest level this month.

The decline in Bitcoin's price has also been accompanied by a significant increase in liquidations, with around 104,013 traders being liquidated within 24 hours, totaling $257.67 million. The largest single Bitcoin liquidation order was recorded on Binance, valued at $3.04 million.

Analysts have offered varying explanations for the decline in Bitcoin's price. Some attribute it to institutional investors taking profits or repositioning their portfolios, while others suggest that macro uncertainty is pushing institutions toward hedging strategies. On-chain data suggests that selling intent remains high, with 9,664 BTC worth over $744 million being sent to exchanges over five days.