Bitcoin’s drop to $92,000 was the result of leverage being flushed out and overoptimistic investor sentiment being reset. The real key is whether or not bulls buy the dip.
Bitcoin (BTC) saw a sharp pullback during the Asian market open, shaking out leveraged positions without breaking its market structure. While sentiment cooled rapidly, onchain and derivatives data suggest that the move resembles a structural reset rather than a deeper trend reversal.
Key takeaways:
$233 million in Bitcoin long liquidations flushed leverage while spot selling stayed muted, pointing to a reset, not panic distribution.
