Bitcoin slips below $90K, futures show bearish bias, while major exchanges and ETFs reveal ongoing investor demand.
Bitcoin (BTC) price plunged below $90,000 early Tuesday, erasing its 2025 gains as futures signal short-term bearishness and top exchanges hoard the digital asset. Despite the selloff, inflows into major Bitcoin ETFs remain strong, underscoring persistent long-term demand.
Bitcoin Futures Signal Caution
According to CME Group data, the underlying Bitcoin futures price stands at $90,255, down 1.86% for the session.
Liquidity is thin, spreads are wide, and almost all meaningful pricing is concentrated around the $90,000-$90,500 range, highlighting this level as the key battleground after Bitcoin’s drop.
CME Bitcoin futures reflect a short-term bearish bias. November contracts fell 1.17% to $90,890, December dropped 1.17% to $91,335, and January slid 2.42% to $90,725, signaling that traders are increasingly pricing in lower Bitcoin levels further out.
In simple terms, with selling pressure outweighing buying. This suggests expectations for lower Bitcoin levels in the near term.
Top Exchanges Are Hoarding Bitcoin
Bitcoin activity across major exchanges is mixed, with Binance continuing to attract the bulk of coins. Over the past 24 hours, Bitcoin recorded strong net inflows of around $1.22 billion, primarily to Binance and Bybit, while smaller exchanges saw modest outflows.
Over the past week, total inflows amounted to around $3.05B, again dominated by Binance. In contrast, Bitfinex experienced significant outflows of $928 million, and Bybit saw smaller withdrawals of $46 million.
The data from DeFiLlama shows a clear trend that major inflows are consolidating at top exchanges, while mid-tier platforms continue to see net outflows.
ETFs Show Resilient Demand
Over the past 24 hours, Bitcoin ETFs saw a net outflow of $254.5M, mainly from BlackRock’s IBIT and Grayscale’s GBTC, while smaller ETFs showed little change, indicating that the bulk of trading activity and flows continues to concentrate in the largest ETFs.
Despite this short-term pullback, cumulative inflows remain strong at $58.6B with total assets of $121B, thus around 6.6% of BTC market cap, indicating that long-term investor demand for Bitcoin ETFs continues to outweigh daily volatility.
Why This Matters
The market is cautious, with futures pointing to further downside while major exchanges hoard Bitcoin. This means volatility will likely continue.
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