The cryptocurrency market is currently experiencing a significant increase in liquidations as Bitcoin (BTC) plunges to a new low for 2025, dropping below $90,000 for the first time this year. According to data from Coinglass, traders faced liquidations totaling $716.05 million in the past 24 hours, with most of the liquidations coming from those who were long on Bitcoin and Ethereum (ETH).
Bitcoin hit a low of around $89,800 on Monday before bouncing back to the $90,000 range. As of the time of writing, Bitcoin is trading at $91,701, reflecting a 3.5% decrease in the last 24 hours. On the other hand, ETH is trading at $3,019, down 8.1% in the last 24 hours.
Various analysts have shared their insights on the recent market dip in Bitcoin. Renowned crypto analyst and trader Michaël van de Poppe took to social media platform X to express his bullish sentiment on Bitcoin, emphasizing the importance of the $92,000 support level on the daily chart for a potential upward movement.
Glassnode and Swissblock co-founders Jan Happel and Yann Alleman, known as Negentropic, highlighted their Bitcoin Risk Signal metric, which experienced a sudden spike. The metric uses price and on-chain data to predict potential downside price movements.
Another pseudonymous analyst, The Flow Horse, also remains optimistic about Bitcoin’s future, stating that he is bullish as long as the price stays above $90,000.
As the market continues to fluctuate, it is crucial for traders and investors to stay informed and cautious. Keeping a close eye on key indicators and expert opinions can help navigate the volatile cryptocurrency market effectively. Subscribe to receive email alerts for timely updates and follow reputable sources on social media platforms like Twitter, Facebook, and Telegram for real-time information.
Stay informed and make informed decisions in the ever-changing world of cryptocurrency trading.