The cryptocurrency market is currently experiencing a significant increase in liquidations following Bitcoin’s sudden drop below the $100,000 mark. According to recent data from Coinglass, traders have faced liquidations totaling $862.4 million over the past two days, with a majority of these liquidations coming from long positions on Bitcoin.
Bitcoin initially climbed back above the $102,000 level on Monday but has since seen a sharp decline. As of the time of writing, Bitcoin is trading at $92,721, marking a 4.7% drop in the last 24 hours. Renowned analyst Rekt Capital, known for accurately predicting Bitcoin’s pre-halving correction last year, has issued a warning to his followers on X. He believes that Bitcoin may experience further corrections before resuming its upward trajectory.
Rekt Capital cautions, “Bitcoin will retrace deep enough to convince you that the bull market is over. And then it will resume its uptrend.” He also warns of increased market volatility for the remainder of the week as Bitcoin failed to turn a crucial resistance level into support.
Looking ahead, the analyst predicts that Bitcoin may enter a bear market at some point this year and extend into most of 2026 if it follows the traditional halving cycle. He suggests, “2025 will likely see the BTC bull market peak and the beginnings of a brand new bear market. The majority of the bear market will take place in 2026, lasting over 365 days and potentially seeing a decline of between 65% to 80%.”
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As we navigate through these uncertain times in the crypto market, it’s important to stay informed and make well-informed decisions. Remember, the cryptocurrency market can be highly volatile, so it’s crucial to stay updated on the latest developments and trends to make the best investment choices.
With insights from experts like Rekt Capital and data from Coinglass, traders can better navigate the ever-changing landscape of the cryptocurrency market. Stay tuned for more updates and analysis as the market continues to evolve.