Bitcoin Liquidation Update

Today marks one of the largest Bitcoin liquidation events, with billions wiped out as overleveraged positions were forcefully closed. This comes after several days of consistent liquidations, highlighting a market under extreme pressure.

The price has dropped close to $92K, which is now a critical support level. However, there is still a chance for Bitcoin to dip further to $90K if sell pressure continues.

Key Highlights:

1. Massive Liquidation Today: Today's liquidation volume is significantly higher than the previous days, reflecting intense market volatility.

2. Progressive Declines: The market has experienced consistent lower lows, pushing Bitcoin to test major support zones.

3. Next Levels: If $92K breaks, the next target for bears is $90K, which could act as a strong psychological and technical support.

Traders should remain cautious as Bitcoin remains in a highly volatile state. A potential pullback could occur after hitting these levels, but the market trend is still bearish for now.