Bitcoin Below $84,000 As Ethereum, XRP, Dogecoin Extend Losses On Heavy ETF Outflows

Bitcoin is struggling to hold $84,000 as heavy U.S. spot ETF outflows signal institutional caution and fuel another wave of liquidations.

Notable Statistics:

• Coinglass data shows 203,945 traders were liquidated in the past 24 hours for $1.43 billion.        
• In the past 24 hours, top losers include River, Tether Gold and PAX Gold.

Notable Developments:

• Why Is Bitmine Immersion Stock Falling Friday?
• Raoul Pal: Bitcoin’s Thesis Has Not Changed, Even After October Liquidation Cascade
• Zero Gains Left For Bitcoin ETF Buyers And $80,000 May Be Next, Analyst Warns
• Trump Ally David Sacks Says US ‘One Step Closer’ To ‘Crypto Capital’ As Senate Panel Advances Bill
• Fed Chair Nominee Kevin Warsh Has Called Bitcoin The ‘New Gold’, Yet BTC Is Down 3%
• XRP Plunges 3% As ETFs Bleed Record $93M: What Is Going On?

Trader Notes: Crypto trader Jelle said most near-term downside liquidity has already been cleared, but a major liquidity pool remains near the $80,000 level. Bitcoin’s next move will depend on the daily and weekly closes.

KillaXBT pointed to seasonal patterns, noting that as Feb. 14 approaches, Bitcoin has historically seen drops of more than 5% within a two-week window.

From an algorithmic perspective, he said short-term consolidation or upside retests are likely before a further leg lower.

Despite that potential bounce, KillaXBT said the broader trend remains bearish and he is not taking long positions.

Whale Factor noted Bitcoin has now printed five consecutive red monthly candles, a level of weakness last seen near the 2018 cycle bottom.

He added that trader exhaustion, deeply negative sentiment and the return of “crypto is dead” narratives are conditions that have historically preceded major inflection points.

While the trend remains fragile, Whale Factor said this is a period where market participants should stay alert.

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