Bitcoin is once again at a pivotal moment after briefly dipping below the $100,000 level on Tuesday, testing one of the most important psychological and structural supports of the 0 market remains tense as bulls attempt to defend this zone amid rising volatility and persistent selling 1 has clearly slowed, and traders are now looking for signs of stabilization as the next directional move takes 2 Reading: ‘Bitcoin $100K Break Was Emotional’ – On-Chain Data Shows No Structural Damage According to top analyst Darkfost, a major shift is unfolding beneath the surface — Bitcoin’s open interest across major centralized exchanges continues to struggle to 3 the mass liquidation event on October 10, when over $10 billion in leveraged positions were wiped out, the use of leverage has cooled 4 has resulted in the largest 30-day decline in open interest of the entire cycle, signaling a widespread de-risking among futures 5 this sharp decline reflects shaken confidence, it may also serve a constructive 6 unwinding of excessive leverage often precedes healthier, more sustainable price action, helping to flush out speculation and rebuild stronger market 7 Flush Deepens as Exchanges See Billions in Open Interest Wiped Out Darkfost highlights that Binance has been at the center of this leverage unwind, recording a massive $4 billion decline in Bitcoin open interest over the past 8 major platforms have faced similar drawdowns, with Bybit losing over $3 billion and 9 more than $2 10 widespread contraction underscores how aggressively leverage has been removed from the market following October’s liquidation 11 on October 10, global open interest dropped by more than $10 billion within hours, one of the most severe leverage resets of the cycle.
Historically, after such dramatic events, traders rebuild positions quickly as volatility cools. However, this time the rebound has been notably absent — open interest remains depressed, suggesting that market confidence is still 12 ongoing correction continues to discourage over-leveraged activity, forcing traders to adopt more conservative 13 this has amplified short-term downside pressure, Darkfost notes that these deleveraging phases are ultimately 14 wash out excessive speculation, allowing stronger hands to reaccumulate and laying the groundwork for the next sustained 15 the medium term, this compression of leverage tends to create a more stable, organic market structure — one driven by spot demand rather than derivatives-driven 16 Reading: Anti-CZ Whale Flips Bullish: Now Long $109M In Ethereum While Holding Massive Meme Shorts Bitcoin Retests Key Support After Heavy Selling Bitcoin is showing signs of stabilization after a sharp sell-off that briefly pushed prices below the critical $100,000 level earlier this 17 of now, BTC trades around $103,000, attempting to recover but facing persistent resistance from the short-term moving 18 chart shows that Bitcoin remains well below the 50-day (blue) and 100-day (green) moving averages — both now acting as dynamic resistance zones around $110,000.
The 200-day MA (red) near $102,000 currently serves as the key support level, and a sustained close below it could open the door to deeper downside, potentially toward $95,000. Related Reading: Balancer Hacker Now Converting Loot to Ethereum: Stolen Funds Surge To $116.6M The recent bounce reflects short-covering and some dip-buying activity, but momentum remains 19 market structure suggests a shift from bullish to corrective, as lower highs continue to 20 bulls to regain control, Bitcoin would need to reclaim the $110,000–$112,000 region — where heavy liquidity and previous breakdown levels 21 remains on whether buyers can hold the $100K–$103K 22 this range would likely trigger another wave of liquidations, while a successful defense could provide the base for a mid-term recovery 23 market remains fragile, with sentiment still leaning 24 image from ChatGPT, chart from 25
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