Crypto markets are pulling back after a strong Sunday as digital asset investment products saw their third consecutive week of outflows, with Bitcoin taking the biggest hit—$2.6 billion in outflows.
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 25% and daily active addresses falling by 16.8%. Transactions greater than $100,000 are up from 9,755 to 10,965 in a single day. Exchanges netflows are up by 4.1%.
- Coinglass data reports 195,184 traders were liquidated in the past 24 hours for $672.38 million.
Notable Developments:
Top Losers:
Trader Notes: Crypto trader Follis dubbed the recent price action "Sunday pump, Monday dump" as Bitcoin reversed its gains. Ali Martinez noted that the last two times Bitcoin formed a hammer candlestick on the weekly chart, it led to major price rallies.
CJ pointed out that Bitcoin rejecting at the yearly open isn't a great sign, with price re-entering last Wednesday's range. He predicts a move towards $83,000 and warns that for bulls, low $80Ks need to hold as a higher low.
Rekt Capital highlighted Bitcoin's downside deviation, filling the CME gap—potentially setting up a higher low relative to last week's low.
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