Bitcoin price selloff is normal, Binance CEO says as US trading pressure grows - Crypto News

Bitcoin has experienced a 15.6% decline over 11 days as US spot Bitcoin ETFs recorded $1.91 billion in withdrawals across seven consecutive trading sessions. The cryptocurrency fell to $62,081 during Sunday's session before recovering part of its losses, trading near $65,300 with a nearly 3% drop over 24 hours.

Market imbalance

Binance Research reported that aggressive Bitcoin selling exceeded aggressive buying by 7,438 BTC on a major dollar-denominated spot exchange between November 11 and 14. During the same period, Binance recorded a smaller imbalance of 2,707 BTC, leaving the unnamed platform with approximately 2.75 times more net selling than Binance.