Bitcoin Drops Below $93,000 But Bullish Sentiment Remins

Bitcoin’s path to $100,000 faced a setback as sellers gained control, pushing its price below $93,000. Margin traders holding long positions suffered significant losses, with total crypto market liquidations on the buy side reaching $337.6 million in the past 24 hours. The liquidations-driven sell-off is evident in volume-by-side data from major centralized exchanges, which shows a sharp increase in selling activity, especially on platforms offering perpetual futures trading. Apart from forced liquidations, Bitcoin long-term holders (LTHs) contributed to the selling pressure. Glassnode identified the 6-month to 12-month LTH cohort as the primary sellers, taking profits on their positions with an

Source: CryptoIntelligence