Greeks.live says weekend crypto drop was driven by internal selling pressure

The weekend decline in the crypto market was driven more by internal selling pressure than by external factors, according to Adam, an analyst at crypto options analytics platform Greeks.live. In a post on X, Adam said BTC had rebounded to $70,000 last night before the U.S. stock market opened, then quickly formed a long upper wick and fell. He said highly leveraged positions and short-term investors exited in large numbers during a period of sharp short-term swings that often appears just before a trend reversal. Even so, block trading remained active despite the weekend and accounted for more than 70% of total volume, Adam said. He added call option buying slightly exceeded other trading types, suggesting some buying interest flowed in even as prices declined.