The Bitcoin market has recently experienced a significant price correction, dropping 15% from its historical high of $108,300. This change marks a swift shift in market sentiment from extreme optimism to uncertainty and caution. Altcoins have also been affected, raising widespread concerns about the sustainability of the recent rally.

Top analyst Maartunn points out that this adjustment coincides with the most severe sell-off activity from Coinbase since October 26, when Bitcoin was priced at $66,000. The increased market selling pressure indicates a shift in sentiment from bullish to fear and hesitation, with a reduction in buying activity further exacerbating this trend.

Currently, Bitcoin is testing the support level at $92,000, and the market is struggling to maintain upward momentum.