Bitcoin continues to edge down, trading below the $96,000 level on Wednesday.
The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $694.11 million in total liquidations in the last 24 hours.
CryptoQuant BTC’s Net Taker Volume on Binance has turned sharply negative, signaling increased selling pressure.
Bitcoin’s (BTC) price continues to edge lower, trading below the $96,000 level on Wednesday after declining more than 5% the previous day. The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $694.11 million in total liquidations in the last 24 hours. Moreover, CryptoQuant BTC’s Net Taker Volume on Binance has turned sharply negative, signaling increased selling pressure and hinting at further decline ahead.Bitcoin price continues to trade in red, falling below $96,000 on Wednesday after declining more than 5% the previous day. This price correction triggered a wave of liquidations across the crypto market, resulting in $694.11 million in total liquidations in the last 24 hours, almost $125 million specifically in BTC, according to data from CoinGlass.Liquidation chart. Source: CoinglassCryptoQuant Bitcoin’s hourly Net Taker Volume on Binance has turned sharply negative on Tuesday, signaling increased selling pressure. This metric reached a peak of -$325 million, the highest value in 2025, during the release of the Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) and Job Openings and Labor Turnover Survey (JOLTs) data on Tuesday, which revealed unfavorable results for risky assets.Traders should watch this indicator as it will be essential to determine whether fear is starting to dominate the markets over the long term or is temporary.Bitcoin Net Taker Volume (Hourly) Binance chart. Source: CryptoQuantAnother sign of weakness is Coinglass’s Bitcoin long-to-short ratio, which reads 0.89, the lowest level in over a month. This ratio below one reflects bearish sentiment in the markets as more traders are betting for the BTC price to fall.Bitcoin Long to Short Ratio Chart. Source: CoinglassMoreover, institutional demand also shows signs of decreasing demand. According to Coinglass, Bitcoin spot Exchange Traded Funds (ETFs) recorded a mild inflow of $52.40 million on Tuesday, compared to $978.60 million on Monday. If the flow data decreases or records a strong outflow, Bitcoin price could decline further.Total Bitcoin Spot ETF Net Inflow chart. Source: CoinglassBitcoin price declined 5.17% and closed below the $100,000 support level on Tuesday. At the time of writing on Wednesday, it hovers around $95,800. If BTC continues its pullback, it could extend the decline to test its 38.2% Fibonacci retracement level at $92,493 (drawn from the November 4 low of $66,835 to the December 17 high of $108,353).The Relative Strength Index on the daily chart read 47, below its neutral level of 50 and pointing downwards, indica
