Stablecoin Withdrawals Siphon Liquidity and Pressure Bitcoin’s Recovery
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U.S. markets spotlight: Order-book pressure amplified Bitcoin’s January slide
Visible sell-side liquidity in exchange order books capped Bitcoin’s rally and set the stage for a rapid decline once a shallow bid cluster failed; broader ETF outflows and concentrated long liquidations amplified the move but were secondary to order-book placement. Trading-data analytics show deliberate sell concentration around key levels that, combined with thinner weekend and on‑exchange dollar liquidity, turned a stalled rebound into a fast cascade toward the mid-five-figure area.

Major exchanges step in as bitcoin sell-off forces emergency market measures
A sharp intraday crypto sell-off prompted coordinated interventions from major market participants, led by Binance converting its user-protection reserve into bitcoin and pledging buybacks if the fund slips below a set threshold. The moves came amid heavy ETF redemptions, large derivatives liquidations and thinner stablecoin cushions, highlighting that tactical support may only blunt — not solve — broader liquidity and structural pressures.


