$BTC is struggling on the market after the plunge to $15,000, but the reason behind the plunge might lead to bigger losses
Most investors in derivatives markets are liquidating their positions to withdraw remaining funds and deleverage their portfolios. Such a large spike in selling pressure at a time when the whole market is experiencing issues with liquidity is the perfect way to push the price of the first cryptocurrency to values unseen for years.
This thesis is also confirmed by the spike in address activity that usually happens during a large exchange outflow period when investors move holdings from third parties to self-custody. The opposite of this process usually happens when the market is rebounding and traders move their funds back on trading platforms to use leverage and maximize their profits, or gain exposure to alternative
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