BTC got smacked today and once more the whales dumping were the cause... 4 billion to be precise. 📉
Reports showed a wave of big selling across major players and exchanges, and the market reacted the way it usually does in a levered tape: fast drop, then forced liquidations. Around $870M in total liquidations were reported, mostly longs, which explains why the move felt so sharp 😅
So can BTC reclaim 97K or do we sink to 90K?
How we would get back to 97K:
• BTC needs to reclaim the mid 90Ks first and actually hold it, not just wick it
• 97K has been a hard ceiling recently, so a clean break needs real spot buying and lower leverage, otherwise it is just another pop that fades
• Watch if open interest cools while price rises, that is healthier
How we end up at 90K:
• If BTC keeps failing below 95K and bounces look weak, sellers stay in control
• 92K-ish is the first “line in the sand” support area. If that breaks, 90K becomes the obvious magnet and it can get ugly fast because stops stack there
My take: this move looks more like a leverage flush plus big supply hitting the book, not the start of a new bear market. But until BTC can get back above 95K and build higher lows, 97K is a stretch and 90K stays on the table 👀
