Bitcoin Drops Below $112K Amid $19B Futures Liquidation
Bitcoin has fallen below the $112,000 level due to macroeconomic concerns and a significant $19 billion futures liquidation.
- Glassnode reports the market is entering a "reset phase" with leverage flushes and increased volatility.
- Bitcoin is trading around $111,000, down 9% in the last week.
- Selling by long-term holders continues, and Bitcoin ETFs see a 2,300 BTC outflow this week.
- The Estimated Leverage Ratio has dropped to multi-month lows, indicating intense liquidation.
Market Analysis
- Options market shows stabilization signs with rebounding open interest despite high volatility.
- Some traders consider this a final reset stage before potential price recovery.
- Ted suggests Bitcoin may reach new highs by 2026 if the $102,000 level holds.
- Jason Pizzino warns that dropping below $108,000 could threaten the bull market but notes other assets like gold and stocks are near record highs.
