WS #16671
Bitcoin faced immediate selling pressure, dropping 0.4% to $77,900 as Binance customers executed a net $3.64 billion withdrawal after the platform reopened funds. This outflow coincided with $643 million in ETF redemptions, highlighting a broader liquidity contraction in the crypto sector. The seasonal 'Uptober' pattern is showing signs of obsolescence as structural liquidity issues and regulatory fears override historical trends.
Crypto Liquidity Shock
Bitcoin faced immediate selling pressure, dropping 0.4% to $77,900 as Binance customers executed a net $3.64 billion withdrawal after the platform reopened funds. This outflow coincided with $643 million in ETF redemptions, highlighting a broader liquidity contraction in the crypto sector. The seasonal 'Uptober' pattern is showing signs of obsolescence as structural liquidity issues and regulatory fears override historical trends.