TechFlow news, November 26 — According to the latest report from QCP, bitcoin prices dropped below $93,000, triggering the liquidation of over $430 million in long positions. This decline followed a $438 million outflow from spot bitcoin ETFs on Monday, after they ended five consecutive days of net inflows. MicroStrategy's stock also fell 4.4%.
Prior to this, MicroStrategy had made a record purchase of $5.4 billion worth of bitcoin last week. With U.S. holidays approaching and a lack of near-term catalysts to drive price gains, bitcoin’s advance toward $100,000 has temporarily stalled.
Ethereum’s implied volatility is now clearly skewed toward put options, reflecting market sentiment similar to bitcoin’s. Overall sentiment remains cautious as investors turn their attention to tonight’s release of the Federal Reserve meeting minutes and Wednesday’s core personal consumption expenditures (PCE) data.
