News from the morning trading in Asia brought a sharp correction. Bitcoin $BTC dropped below the important psychological mark of $93,000. Along with it, major altcoins also fell: SOL, SUI, and ZCash showed a decline of 6-10%.
In the last 24 hours, this movement led to a massive liquidation of positions totaling over $680 million, with the lion's share ($600 million) being in long positions. This is a classic sign that the market was overheated with optimism.
What do analysts say?
The key takeaway from analytical companies is that the recent rise has been fragile. Key conclusions from their reports:
· Liquidity remains low, making the price vulnerable to sharp reversals.
· Large long-term holders create a zone of saturated supply, limiting growth.
· CryptoQuant even characterizes the movement since late November as a potential "bear market rally" rather than the start of a new bull trend.
Current signals:
· BTC is still below its 365-day moving average (~$101k), which has historically served as an important "regime boundary."
· Inflows into spot Bitcoin ETFs in the US remain moderate.
· However, there are positive aspects: sales from long-term holders have slowed, and on major exchanges, including Binance, flows in the spot market have shifted towards buyers.
The main conclusion from experts: Until sustainable demand for "spot" recovers, Bitcoin will remain sensitive to changes in leverage and liquidity. The options market shows that large investors remain cautious.
This is an important reminder of the volatility of the crypto market and the need for responsible risk management. Always make your own assessment and trade mindfully.
