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- Bitcoin down 2.84% at $110K amid U.S. selling pressure.
- Spot volume exceeds $300B, showing strong market participation.
- Whales and derivatives bets could drive short-term volatility.
Bitcoin (BTC) is under renewed scrutiny as it trades around $110,000, reflecting a 2.84% drop over the past 24 hours. Recent data shows U.S. investor activity tilting bearish, with outflows and leveraged bets intensifying downward pressure on the market.
High Volume Signals Market Participation
Despite the dip, Bitcoin’s trading volume has surged to its second-highest level of the year, exceeding $300 billion. Analysts say this spike, largely triggered by October’s liquidation cascade, reflects participation from less-leveraged investors, signaling a healthier spot market.
CryptoQuant reports that Binance dominated global trading with $174.9 billion in volume, while U.S. platforms Coinbase and Kraken accounted for $38.5 billion. Higher spot trading activity indicates that the market is not solely driven by speculative moves, though sellers appear to dominate.
U.S. Whales Lead Selling Pressure
Data from Lookonchain highlights significant U.S. whale activity. Over the past ten days, a single whale sold roughly 2,587.6 BTC—worth about $290 million—on Kraken, marking one of the largest individual liquidations in recent weeks. This heavy selling by U.S. investors contributes to bearish sentiment and puts short-term pressure on prices.
Owen Gunden, a #Bitcoin OG who holds over 10,000 $BTC, has been aggressively dumping $BTC recently!
— Lookonchain (@lookonchain) October 30, 2025
In less than 10 days, he's deposited 2,587.6 $BTC($290M) to #Kraken.https://t.co/Fx6wtq0Whmhttps://t.co/TOWQgX2CS3 pic.twitter.com/jUtqSepzwM
Derivatives Show Continued Downside Bets
U.S. derivatives markets reinforce the bearish tilt. Coinbase and Kraken report that selling volumes exceeded 50% of total trades over the past day, and the negative Taker Buy-Sell Ratio suggests that over-leveraged positions could push prices lower. While the Coinbase Premium Index shows a slight bullish signal at 0.009%, sentiment remains fragile and may shift quickly.
Glassnode data indicates a broadly neutral market. The Funding Rate and Open Interest metrics show a balance between buyers and sellers, though fluctuations of up to 30% from recent highs highlight potential volatility. Market watchers warn that sustained bearish momentum from U.S. investors could trigger short-term losses for Bitcoin holders.
Bitcoin’s $110K trading level is facing pressure from U.S. investors and whale selling, even amid record trading volumes. While the market is technically neutral, short-term volatility remains likely.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: How to Protect Your ETH and XRP Portfolio When Bitcoin Collapses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
