Bitcoin falls to $91,800 but maintains its upward course

Bitcoin seemed to be starting a new comeback, one of those sudden surges of which it has the secret. But the breath was short. The shadow of the bear resurfaced, erasing recent gains in a few hours. At a time when some fear a plunge towards $90,000, calm nevertheless dominates the crypto-sphere. Nobody is crying crash. Seasoned investors speak more of a beneficial purge, a necessary step before a new impetus.

The traders' cleaning up: when the lever catches fire and burns out

BTC price stumbled to $91,800, triggering a cascade of long liquidations estimated at $233 million. A shock, certainly, but not a panic. The crypto market has simply cleaned house: too many levers, too much optimism. Analysts speak of a technical “reset”, a cleaning of the system before a possible recovery.

According to Axel Adler Jr., this type of phase follows always the same mechanics :

The market completed a classic deleveraging cycle: bullish euphoria, with sentiment above 80%, led to an accumulation of overheated long positions. The correction triggered a cascade of liquidations exceeding $205 million, and sentiment collapsed below the neutral level to 44.9%. The current regime is neutral, with a slight tilt towards caution (risk-off).

And he adds: “ The signal of improvement would be a return of sentiment above 50%, without a new wave of liquidations. The main risk: a further decline in sentiment towards the 20–30% zone, which would pave the way for a test of the $90,000 support “.

Clearly, bitcoin has not broken its upward momentum. He just treated himself to a yoga session: breathing, relaxation, purging.

Cooled feeling, intact confidence: the paradox of the crypto market

The famous advanced sentiment index, observed by crypto traders, fell from 80% to 44.9% in a few hours. This number reflects a change in tone: frenzy gives way to lucidity.

However, technical signals and on-chain data show that the market remains strong. Cash sales remain limited, proof that large portfolios are not shedding money.

Seasoned crypto investors see this lull as an opportunity. Data from Hyblock Capital indicates that $250 million of long positions were taken over around $92,000.

An encouraging sign: strong hands redeem fear. Trader tweets agree on this point: as long as BTC maintains its “higher lows”, the upward trend remains valid.

And as we recall a report from ZeroCap :

The market recovered relatively quickly, with Bitcoin regaining its equilibrium in this area, suggesting strong underlying demand and showing that much of this macroeconomic noise is already priced.

The watchword of the moment: serenity.

Bitcoin in pause mode: the $90,000 mark to watch

The graphics speak. The $90,000-$93,000 corridor represents a crucial demand area. This is where bitcoin could build its next base. If this threshold holds, the scenario of a rebound towards $100,000 remains credible.

But a break below $90,000 would reopen the door to a more severe correction. For now, the signals remain mixed: contained volatility, stable liquidity, sustained institutional interest.

Bitcoin ETFs, always positive, act as a shock absorber. Incoming flows compensate for the uncertainties linked to trade tensions and still unclear regulations. The most seasoned crypto investors are monitoring sentiment: a return above 50% could reignite the flames of the rise.

The figures that set the tone for the crypto market

• Current BTC price: $91,112;
• Long liquidations: $233 million;
• Sentiment Index: 44.9%, compared to 80% a few days earlier;
• Open Interest: $28 billion;
• Long positions reloaded: $250 million.

Bitcoin is therefore staying the course, despite the turbulence. But another indicator is starting to attract attention: Bitcoin options are now outperforming futures. This shift reveals a paradigm shift. The market is learning to manage risk differently, with a new sophistication, where hedging takes precedence over pure speculation.