Bitcoin Drops Below $100,000 For The Second Time In a Week
Bitcoin fell under $100,000 again due to forced liquidations and significant selling by long-term holders.Summary
Bitcoin dropped below the $100,000 psychological level for the second time within a week, trading near $98,400 and signaling market fragility. This decline triggered over $683 million in liquidations over 24 hours, with long positions accounting for the majority of losses. Compounding the selling pressure, long-term holders (addresses holding BTC for over six months) sold approximately 815,000 BTC in the last 30 days, the highest level of distribution since January 2024. Analysts note this pattern of long-term holder spending often precedes local tops and consolidation periods, mirroring distribution seen at previous cycle highs. The market is currently testing the critical $98,000–$100,000 range, where buyer intervention is necessary to avoid a deeper price correction.
(Source：BeInCrypto)