#bitcoin / $BTC

BTCUSDT

Perp

92,915.2

+0.69%

Never underestimate the psychological power of round numbers.

Looking at the Net Delta right at the moment Bitcoin dropped below $100,000 (the vertical gold line) — you will understand why.

Before the holiday break, the net selling pressure was almost dormant, lingering around $100 million/day.

But just losing the $100,000 mark, the market shifted to full capitulation mode.

Net selling volume increased 15 times, nearing $1.5 billion in one day — a relentless sell-off.

Long-term holders panicked and sold, while the short side chased the crash at breakneck speed.

If you've ever wondered why the drop from $100,000 to $80,000 hurts so much…

This is the answer right before your eyes.