🐋Bitcoin’s recent drop — described by James Check as a “two-sigma liquidation event” — exposed a broad washout of leveraged positions and an ongoing reset of overextended traders. He notes that downside pressure may not be fully exhausted, leaving room for a move into the $70,000–$80,000 range, where the market could “squeeze out the last remnants” of speculative excess.
🐋Nevertheless, some analysts see early indications of stabilization. SignalPlus estimates that the market is oversold and may hold within the $82,000–$92,000 corridor, provided no new stress events emerge. However, CryptoQuant data shows that some large holders continue to sell, suggesting that a confirmed trend reversal will require a meaningful shift in whale behavior.