The sharp move on June 21st dragged the price of Bitcoin (BTC) below the $102.5K threshold.
The figures suggest that further correction is likely, especially if the $100K support level is broken.
Bitcoin [BTC] dominance has increased by 10% in a week, but news of the US bombing Iran's nuclear facilities yesterday has sent market sentiment plummeting.
This geopolitical turmoil has triggered panic in the crypto market, sending BTC down to $100,809 at the time of writing.
Naturally, this pullback triggered a long position liquidation chain below the $103K threshold, leading to a massive liquidation of Long positions, leaving short-term investors vulnerable to paralysis.
Over $127.3 million in Long positions have been liquidated in the past 24 hours, with more expected to come in the coming days.
Here's what Bitcoin traders and investors need to pay attention to.
Clues Show Bitcoin Could Be in for a Deeper Correction
Source: Glassnode
According to Glassnode's MVRV Extreme Deviation Pricing Bands, on June 21, BTC price fell below the +0.5σ threshold, at $102,159 while +0.5σ was $102,770.
A break below this level usually signals a potential broader correction in the market.
The Extreme Price Range Index helps us identify when the market is experiencing extreme unrealized gains or unrealized losses. Calculated based on the MVRV ratio, this tool provides a statistically sound method of analysis.
During the previous breakout, in February 2025, BTC price underwent a six-week correction on average, with a bottom at $83,171.
Based on that trajectory, BTC price is likely to return to $82K–$83K, unless market sentiment rapidly turns positive.
Accumulated buying power increases, will the bulls appear?
Source: CryptoQuant
During the price drop, the stablecoin supply ratio (SSR) fell, but has not yet reached the lowest levels seen in March and April. This shows that the flow of stablecoins has increased, increasing the possibility of buying in the market.
Source: Glassnode
Increased buying power does not mean that the market will immediately bounce back. The risk of a deeper decline remains, especially when indicators show that Bitcoin is under great pressure to correct from its historical high.
According to Glassnode, Bitcoin's decline from its all-time high as of June 21 is -8.75%. In previous cycles, corrections have ranged from 20% to over 50% before the market recovers.
In April, BTC experienced a 24% correction, reminding investors that strong rallies are often followed by painful corrections.
Breaking above the historical high will not be easy—volatility could continue, with a possible drop below $100K before a new turning point.
Source: https://tintucbitcoin.com/bitcoin-canh-bao-btc-co-giam-con-82k/
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