Market analyst MorenoDV_ reports a muted response by Bitcoin short-term holders (STH) to a combined attack by the US and Israel on Iran. The observation is important considering the previous sell-offs that have dominated the market in recent months.
Bitcoin STH Reaction To Geopolitical Conflict Signals Seller Exhaustion – What Next?
The Bitcoin short-term holders refer to a cohort of investors who acquired Bitcoin over the last 155 days. They are described as the most reactive set of investors, and therefore, activity is often indicative of short-term volatility and price direction.
According to MorenoDV_ in a QuickTake post on February 27, these short-term holders are showing a moderate market response to the heightened geopolitical tensions in the Middle East after the US and Israel launched a coordinated attack on Iran. Using data from the Bitcoin STH P&L to exchanges 24H, the renowned market analyst reports subdued inflows to exchanges, indicating no panic profit taking or loss capitulation, even despite an event that has historically triggered a mass sell-off.
MorenoDV_ explains that this shift in market behavior came after the major market capitulation between February 5-6, when Bitcoin short-term holders sent 89,000 BTC to exchanges at a loss within 24 hours. Following this event, loss-driven inflows appear to have steadily reduced, indicating sellers’ exhaustion, or a positive shift from panic to patience.
With respect to the conflict between the US, Israel, and Iran, there was no spike in STH exchange inflows even as prices dipped to around $63,000-$64,000. MorenoDV_ states that this important observation suggests a complete exit of weak hands from the market as well as significant absorption of recent liquidation pressure.
Looking ahead, if the STH holders maintain a muted response to other bearish triggers, it would suggest a market stabilization phase that has historically preceded a bullish market recovery arc. On the other hand, an increase in STH exchange inflows and realized losses would indicate market drawdown is incomplete, and investors still stand at risk of further decline.
Bitcoin Price Overview
At the time of writing, Bitcoin is valued at $67,007, reflecting a slight rebound of 4.41% in the last 24 hours. In tandem, daily trading volume is up by 0.81% and valued at $40.81 billion.
The premier cryptocurrency continues to move within a defined range of $60,000-$70,000 as seen for the majority of February. While analysts continue to speculate on the cycle bottom, the conditions for a bullish reversal, such as a recovery in ETF inflows, a spike in LTH demand, or a dovish Fed outlook, also remain absent.
]]>Bitcoin is facing panic selling as tensions between the U.S. and Iran escalate, with both countries launching airstrikes, a move that has sparked fears of a full-blown war. Expert Colin has warned of a BTC crash as the leading crypto risks losing key support levels. Bitcoin Faces Panic Selling, Raising Concerns Of A BTC Crash
The post Bitcoin Faces $1.8B in Panic Selling as U.S.-Iran Airstrikes Escalate; Will BTC Crash Below $60k? appeared first on CoinGape.
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Ethereum continues to face sustained selling pressure as broader crypto market sentiment shifts toward caution and, in some segments, outright panic. Price action has struggled to regain stability in recent weeks, with repeated rebound attempts failing to produce sustained upside momentum. Elevated volatility, tightening liquidity conditions, and persistent macro uncertainty have reinforced a defensive posture among both retail and institutional participants, leaving Ethereum vulnerable to further short-term weakness.
A recent CryptoQuant report provides additional context through on-chain activity. According to the data, the ETH Binance User Deposit Address metric has recorded a sharp increase. The number of unique addresses depositing Ethereum to Binance has surged from roughly 360,000 to more than 450,000, representing the highest level observed since August 2025. Metrics tracking deposit addresses often serve as a proxy for potential sell-side intent, since assets transferred to exchanges are typically more accessible for liquidation, collateral usage, or portfolio rebalancing.
However, such spikes do not automatically translate into immediate selling. In some cases, they reflect positioning adjustments, hedging activity, or preparation for derivatives trading. Even so, the scale of the recent increase suggests heightened market anxiety and warrants close monitoring as Ethereum navigates an increasingly fragile market environment.
Exchange Deposits Surge As Price Correction Deepens
The report highlights that this metric breakout has occurred alongside a severe price correction. Ethereum has declined sharply from its October peak near $4,900 to roughly the $1,900 region. The simultaneous drop in price and surge in exchange deposit addresses suggests two primary on-chain interpretations that merit careful consideration.
The first scenario points to retail capitulation. A rapid increase in unique depositing addresses often reflects panic behavior among smaller investors. Participants who held through earlier stages of the decline may now be transferring assets to exchanges to exit positions, reinforcing short-term sell-side pressure.
The second interpretation relates to derivatives market positioning. With ETH trading below the $2,000 threshold, some deposits likely represent collateral replenishment. Traders facing liquidation risk may be adding margin to maintain leveraged long positions rather than outright selling their holdings.
In the near term, increased deposits elevate potential supply on exchanges, which can intensify volatility if selling materializes. However, historically, extreme spikes in deposit activity have frequently appeared during late-stage corrective phases. Such conditions sometimes precede seller exhaustion.
Monitoring exchange outflows, spot volume absorption, and derivatives positioning will be critical to determine whether this activity signals continued downside risk or the early formation of a local market bottom.
Ethereum Tests Structural Support As Downtrend Persists
Ethereum continues to trade under sustained pressure, with the weekly chart showing a clear loss of bullish momentum following the rejection near the $4,800–$5,000 region. Price has now retraced toward the $1,900 area, a zone that previously acted as consolidation support during earlier cycle phases. The inability to hold above the mid-cycle moving averages suggests that sellers still maintain structural control.
The 50-week moving average has rolled over and now acts as overhead resistance, while the 100-week average appears to be flattening. Meanwhile, price is approaching the longer-term 200-week moving average, a level historically associated with major cyclical support. A decisive breakdown below this region could expose deeper downside, whereas stabilization here may encourage medium-term accumulation.
Volume patterns indicate intermittent spikes during declines, which typically reflect distribution rather than sustained buying interest. This reinforces the interpretation of a defensive market phase rather than a confirmed recovery trend.
Despite the weakness, volatility compression near long-term averages sometimes precedes transitional periods. Confirmation, however, would require sustained closes above reclaimable resistance levels and improving participation metrics. Until then, Ethereum remains in a fragile technical posture with risk skewed toward continued consolidation or downside drift rather than immediate bullish continuation.
Featured image from ChatGPT, chart from TradingView.com
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Bearish sentiments continue to dominate the Bitcoin market as the premier cryptocurrency looks to record a fifth consecutive monthly loss. Presently, prices are consolidating beneath the $70,000 mark, as market bulls struggle to force a decisive breakout above the resistance zone.
Amid this choppy price action, data from the Bitcoin options market shows that traders are beginning to expect less volatility but still acknowledge the fragile nature of the market.
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Bitcoin Volatility Expectations Drop, Market Panic Fades
In an X post on February 20, Glassnode shared its weekly Bitcoin options market update, analyzing the traders’ behavior and sentiment in relation to present market conditions. The market analytics firm reports a notable change in volatility expectations that helps to subside the presently heightened bearish sentiments.
According to Glassnode analysts, At-the-money (ATM) implied volatility across maturities has significantly dropped to around 48%, down significantly from recent highs. Because ATM IV reflects the market’s expected move, the decline suggests traders are no longer betting on an immediate price crash.
Notably, this shift is reinforced by moves in DVOL, an indicator for measuring aggregate implied volatility expectations. Following initial spikes during the market liquidation in late January/early February, DVOL has fallen by roughly 10 volatility points over the past two weeks, signaling that extreme hedging demand is easing out.
In addition, the short-term volatility risk premium (VRP) has turned positive. Earlier this month, one-week VRP plunged to deeply negative levels at -45, as realized volatility far exceeded implied. Since then, implied volatility has repriced higher while realized volatility has stabilized, restoring a premium in short-dated options.
Together, these metrics suggest that panic pricing is being reset, and expectations for outsized, volatile moves have declined.
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Bitcoin Traders Remain Alert To Downside
Despite the cooling in volatility expectations, other metrics show that traders are maintaining a defensive market position.
For example, the Put skew, which measures the relative demand for downside protection versus upside exposure, remains quite heightened despite moving off the extreme hedge. After bottoming near the 7 volatility points, the one-week 25-delta skew has rebounded toward 14 vol. The recovery indicates that while extreme fear has subsided, demand for downside insurance remains firm.
The taker flow data also tells a similar story. Puts represented two-thirds of last week’s options activity, with outright put buying representing about 34% of total flow. The dominance of protective positioning suggests that market participants are not fully convinced the correction has run its course.
In conclusion, the options market is signaling a more measured outlook, where expectations for immediate turmoil have faded, but traders are hedging to hedge against the risk of another downside. At press time, Bitcoin trades at $67,628 following a 0.92% gain in the last 24 hours.
More data from Glassnode also shows that Dealers are broadly short gamma across a wide price range between $70,000 and $58,000, a positioning structure that could amplify selling pressure if Bitcoin extends losses. Conversely, a large gamma concentration around $75,000 suggests positioning for a potential rebound.
Featured image from Flickr, chart from Tradingview
Crypto market participants bracing for high volatility and uncertainty to face two major headwinds today. Crypto Fear and Greed Index at 5 signals extreme fear ahead of Bitcoin, ETH, XRP, and SOL options expiry. The market sentiment is further rattled by the US CPI inflation data release later today. Technical and on-chain data are flashing
The post Crypto Market in Panic Mode Ahead of Bitcoin, ETH, XRP, SOL Options Expiry & US CPI Today appeared first on CoinGape.
]]>Shiba Inu Open Interest Slides 11% In Growing “SHIB Is Over” Panic InteractiveCrypto
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Shiba Inu: How to Ride the Market Crash Without Panic InteractiveCrypto
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XRP now finds itself trading around the $1.90 region due to an extensive pullback in the past 30 days. The question is now whether this pullback is a structural weakness or a necessary reset within a larger bullish structure.
A technical analysis shared by crypto analyst Tara focuses on this exact moment, highlighting why the current level could be far more important than it looks on the surface.
XRP Tests A Macro Fib Support Zone Around $1.88
XRP’s price action in the past 24 hours saw it declining to an intraday low of $1.88, according to data from CoinGecko. However, technical analysis shows that this move has pushed the price action to a major macro support level around $1.88, which is defined by an important macro 0.5 Fib retracement on higher-timeframe charts. This zone has previously acted as a pivot, just like the bounce on November 21, which pushed the XRP price back to $2.26 within 48 hours.
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The chart included in the analysis, which is shown below, illustrates multiple Fibonacci confluences clustered between roughly $1.88 and $1.86, and this further adds to the idea that this region is structurally significant rather than arbitrary. From a price-action perspective, XRP’s current pullback has been orderly, with no sharp breakdowns below this support as of now, and sellers may be losing momentum as price compresses into this level.
What A Bounce Or Breakdown Could Mean From Here
Tara noted that moments like this tend to feel the scariest for traders, precisely because the price is sitting on support rather than moving away from it. These are the points where sentiment is weakest, and fear is most visible, even though risk-reward technically improves.
Therefore, retesting support is not inherently bearish. Instead, repeated support tests can absorb selling pressure and create the conditions for a stronger bounce.
The most important takeaway from the analysis is not that XRP must rally immediately, but that the reaction at this level matters more than the level itself. If XRP holds above the $1.88 price level and avoids printing a decisive new low, the structure would favor a bullish continuation.
In this case, the upside targets will be between $2.18 and $2.20. From here, any bullish follow-through could carry XRP to $2.31. These are all midterm price targets that can be achieved before the end of the year.
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Momentum indicators, including the RSI, are already in oversold territory on the 4-hour candlestick chart. This indicator adds to the possibility of a clean bounce for XRP from the strong support around $1.88. At the time of writing, XRP is trading at $1.90 and is already showing signs of holding above $1.88.
On the other hand, a breakdown below $1.90 to $1.80 would invalidate the current bullish setup and redirect attention to lower retracement areas.
Featured image from Getty Images, chart from Tradingview.com
Fresh data showed that BlackRock pulled about $473.72 million worth of Bitcoin in a single session. This marks the biggest withdrawal in USD terms since the asset manager entered the market. The massive exit added pressure during a week already filled with fear and massive sell-offs. Major Bitcoin ETFs Record Sharp Withdrawals SoSoValue data confirmed
The post BlackRock Bitcoin ETF’s Biggest Outflow Ever Sparks Panic, But Kiyosaki Stays Bullish appeared first on CoinGape.
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