💠Bitcoin’s sharp decline — triggered by over $1 billion in long liquidations — became one of the year’s largest pullbacks. Losing support near $101,000 sparked cascading sell-offs and a brief drop toward $94,000, but a swift bid response pushed the price back above $96,000, reinforcing a localized demand zone.
💠On-chain metrics indicate that the broader cycle remains incomplete, with SOPR fluctuating in a neutral band and forming a base for potential upside momentum. The absence of significant selling pressure from large holders points to healthy consolidation rather than a structural trend breakdown. As long as SOPR remains below 1.075, Bitcoin retains its upside potential.