Once the price of Bitcoin falls below the key support level of $92,000, it is expected to trigger forced liquidations of longs amounting to up to $1.15 billion.
Conversely, if the price successfully breaks through the resistance line of $96,000, it could lead to the liquidation of approximately $1.024 billion in short positions. The current price is nearing the lower range, and investors should not panic excessively due to short-term declines and misjudge the end of the bull market.
Looking back at the previous market cycle, Bitcoin's price retraced from a high of $108,366 to around $91,500, when the market was generally optimistic about breaking through $110,000.
However, when the price hit $91,500, market sentiment turned pessimistic, fearing a drop below $90,000. But ultimately, the price rebounded to around $102,700.
Recently, the price has again dipped to around $92,500, indicating that the market adjustment is nearing its end. Additionally, from a fundamental perspective, Bitcoin's long-term value remains solid. It is advisable for the bullish camp to maintain confidence; the dawn of victory is approaching.
For Bitcoin, consider adding positions when the price retraces to around $92,000. For Ethereum, if the price falls back to around $3,200, it may also be worth considering increasing positions.