Bitcoin $92K Drop Resets Leverage, Clears Unhealthy Investor Optimism

Bitcoin experienced a sharp 3.7% pullback from $95,300 to $91,800 during the Asian session, which resulted in the liquidation of approximately $233 million in leveraged long positions. This move is viewed as a structural reset rather than a trend reversal because spot selling remained muted, and open interest fell to $28 billion, indicating unwinding of leverage rather than panic distribution. Sentiment, measured by the Advanced Sentiment Index, collapsed from an extreme 80% bullishness to 44.9%, moving below the neutral 50% threshold. Technically, the $92,000 to $93,000 region is considered a strong demand zone, aligning with a daily order block and monthly VWAP support, suggesting a plausible higher-low area before another attempt toward $100,000. Data also shows significant net long demand filled near $92,000, supporting the 'buy the dip' narrative, provided Bitcoin holds above $90,000.

(Source：Cointelegraph)