Liquidation wave. Since yesterday, both Bitcoin and Ethereum have lost over $1 billion in open interest, indicating a significant reduction in leverage in the market.
On X (formerly known as Twitter).
Some analysts are pointing to today’s crypto liquidation as an indication that Bitcoin will fall below the $93,000 support level and enter a bearish cycle.
Jacob King wrote on X (formerly Twitter): "Bitcoin is repeating an 8 year resistance pattern. Every rejection at this trendline has led to massive crashes. Expect a massive crash, history repeats itself. My 2025 targets are#BTCbelow $30,000."
However, most analysts maintain a bullish outlook for Bitcoin. Rect Capital, for example, predicts that the liquidation signals the beginning of a new four-year cycle.
According to his predictions, a near-curve price rally may occur before the expected bear market in 2026.