Bitcoin Falls Below $100,000 as Long-Term Holders Drive Heavy Sell-Off

​Bitcoin dropped sharply as renewed bearish sentiment pushed the asset beneath key technical levels, triggering one of the largest corrections of the year. More than 815,000 BTC were sold by long-term holders over the past month, a shift analysts say reflects “a broader change in market conviction.”

The decline accelerated after Bitcoin broke below $100,000, setting off stop-loss orders and contributing to over $647 million in liquidated long positions. Analysts noted the liquidations “added significant downside momentum,” especially during thin U.S. trading hours.

Macro pressures—including fading expectations for U.S. rate cuts and weakness in tech and crypto-linked equities—further weighed on sentiment.

Market observers warn that Bitcoin remains vulnerable, with $93,000 and $88,000 viewed as the next major support levels. Derivatives data shows rising hedging activity, pointing to a more cautious market structure.

With Bitcoin trading far below its October high near $126,000, attention now shifts to whether the market can stabilise. Traders are watching U.S. macro data, liquidity conditions, ETF flows and onchain trends for signs of a potential reversal.