Bitcoin Slips Below $81K as US Government, Miners and Short-Term Holders Sell

The scale of the liquidation cascade — roughly 180,000 traders, with longs accounting for the bulk — points to a market that had grown crowded on leverage rather than a fundamental repricing. The more telling signal is the US government's Coinbase Prime deposits, which put a visible sovereign supply overhang alongside miner and short-term holder distribution. Whether that official flow continues is the open question; it matters less for its size than for what it signals about the willingness of large holders to meet rallies with supply.