Bitcoin finally shattered the $100,000 barrier, reaching an all-time high of $103,600. The milestone marked a historic moment for cryptocurrency as investors and enthusiasts celebrated its journey to six figures. However, the euphoria was short-lived. Within hours, BTC experienced a sharp reversal, plunging to $92,000 in a dramatic sell-off that left the market reeling.

Top analyst Axel Adler took to X to explain the sudden drop, pointing to an overwhelming number of high-leverage positions as the main culprit. According to Adler, as BTC surged past $100K, a cascade of liquidations was triggered, leading to a swift correction. Leverage, a double-edged sword in crypto markets, amplified the downward pressure as traders who had borrowed heavily were forced to exit their positions.

While the retracement shook the market, BTC remains above critical levels, with analysts debating its next move. Some believe this pullback is a healthy reset, paving the way for a more sustainable rally. Others worry it could signal further volatility. As BTC consolidates after this historic surge and sharp correction, all eyes are on whether it can reclaim the $100K level and hold it as support in the days to come.

Bitcoin Open Interest Is Showing Us Something 

Bitcoin has experienced one of its most volatile days in this cycle, plunging from $103K to $92K in less than 24 hours. This sharp reversal has left many investors wondering what caused such a drastic move after the euphoria surrounding Bitcoin’s new all-time high. According to key data from CryptoQuant analyst Axel Adler, the sharp decline can be attributed to a significant deleveraging event in the futures market.

Adler explained that the liquidation of long positions played a crucial role in driving the price down. As BTC surged past $102K, many traders were holding highly leveraged positions, and when th

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Author: Sebastian Villafuerte