According to Skew Δ, Bitcoin and risk assets have once again experienced a sell-off. This movement was primarily led by the spot market, followed by perpetual futures. The sustaining factor for the price has been passive buying. Traders should monitor passive buying activity closely, as its absence could lead to increased price pressure.

According to Skew Δ, the Bitcoin market is experiencing aggressive selling pressure, though current sell volume is not significant. Long positions are being liquidated under price pressure, while passive buyers are attempting to absorb the selling activity.