Bitcoin falls to $98K as futures liquidations soar: Should bulls expect a bounce?

Overview

Bitcoin experienced a significant decline, dropping to $98,000 as key support levels failed to attract substantial buying interest from bulls. This downturn was further exacerbated by a substantial number of long positions being liquidated among futures traders.

What Happened

The price of Bitcoin fell to $98,000, indicating a notable shift in market dynamics. Key support levels, which typically serve as price floors and encourage buying activity, did not succeed in rallying sufficient interest from bullish traders. As a result, many futures traders found themselves on the losing side, leading to a surge in liquidations of long positions.

This situation highlights the challenges faced by bulls in the current market environment. The inability to generate significant buying pressure at critical support levels signals a potential shift in market sentiment and raises questions about future price movements.

Impact on the crypto market

• The decline in Bitcoin’s price may influence investor sentiment, potentially leading to increased caution among market participants.
• The liquidation of long positions among futures traders could create additional volatility in the market.
• Failure to maintain key support levels may lead to further downward pressure on Bitcoin’s price.
• The situation underscores the importance of monitoring market dynamics and trader behavior in cryptocurrency markets.
• Increased liquidations might deter new investors from entering the market in the near term.

Updated: 11/13/2025, 7:19:31 PM