‘Violent selloff, not terminal’: Analysts see bitcoin consolidating after leverage flush dips price below $100,000

Bitcoin briefly traded below $100,000 for the first time since May 2025 following a massive deleveraging event that liquidated over $1.7 billion in leveraged positions, primarily long ones. This drop, which saw the price hit an intraday low of $99,980, was triggered by a combination of macro risk-off sentiment affecting tech stocks and mechanical deleveraging, compounded by significant Bitcoin spot ETF outflows. Analysts, including Nic Puckrin of The Coin Bureau and Timothy Misir of BRN, characterized the move as a "violent selloff, not terminal," suggesting it was a necessary flush of leverage rather than a sign of market capitulation. Puckrin noted that despite the drop, BTC is only about 20% below its all-time high and suggested a $150,000 cycle top remains possible, provided the price holds above the 50-week EMA near $101,000. Experts agree that Bitcoin is likely to consolidate between $98,000 and $110,000 until ETF inflows or macro conditions improve, viewing the current state as a leaner, less vulnerable system.

(Source：The Block)