Bitcoin just erased all 2026 gains as a $1.5 billion liquidation trap catches every trader off guard

Bitcoin surrendered the $90,000 level during early Asian trading, wiping out all gains made in 2026, as it fell to a low of $87,282. This sharp downturn was fueled by a combination of factors: over $1.5 billion in long position liquidations over 48 hours, aggressive spot market selling indicated by negative Net Taker Volume, and large Bitcoin deposits onto exchanges by whale investors. Compounding the internal market pressure is a hostile macroeconomic environment dubbed the “Japanic” phenomenon, where instability in the Japanese bond market is causing a global risk-off sentiment, leading to synchronized selling across assets like equities and Bitcoin. Technical analysis suggests the $89,800-$90,000 range is critical, as a sustained break below it could trigger panic selling from short-term holders whose cost basis lies there. While the chaos might reinforce Bitcoin's long-term case as a non-sovereign asset, immediate resistance levels near $92,500 and $99,300 must be overcome to restore bullish momentum.

(Source：CryptoSlate)