BTC Price Drops 2.57% After $148M Liquidations, Volatility Surges Below Key $93K Support

BTCUSDT experienced a 2.57% price decrease over the past 24 hours, falling from 95,124.65 to 92,684.01 on Binance. This decline is primarily attributed to $148 million in long position liquidations, concentrated in the 96,000–98,000 USDT range, with notable activity at 90,000–88,000 USDT, as market volatility increased following a dip below key support levels around $93,000. Sentiment remains mixed, with the relative strength index below 50 and trading below major moving averages, reflecting reduced retail demand and ongoing institutional interest. The 24-hour trading volume on Binance was 8,767.50 BTC (828.37 million USDT), with Bitcoin maintaining a market cap of approximately $1.87 trillion and a dominance of 57.31% in the global cryptocurrency market.