The crypto market experienced a serious wave of selling as Bitcoin fell below $98,000. This move triggered a major leverage clean-up, with over $1 billion worth of positions liquidated within 24 hours—of which $887 million were long positions. This "Extreme Fear" environment is driving retail participants to exit, while on-chain data reveals that "smart money" is doing the exact opposite.
Is This the Beginning of Altcoin Season? The sharp liquidation wave is seen by many analysts as a bullish "reset." Analyst Merlijn stated, "Every previous altcoin season was born here. Bitcoin absorbs. Liquidity returns. The time for real fireworks has come." Some analysts indicate that this decline closely resembles the "great altcoin rotation" prior to the 2019–2020 cycle.
This sentiment is also supported by technical data:
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The crypto market experienced a serious wave of selling as Bitcoin fell below $98,000. This move triggered a major leverage clean-up, with over $1 billion worth of positions liquidated within 24 hours—of which $887 million were long positions. This "Extreme Fear" environment is driving retail participants to exit, while on-chain data reveals that "smart money" is doing the exact opposite.
Is This the Beginning of Altcoin Season?
The sharp liquidation wave is seen by many analysts as a bullish "reset." Analyst Merlijn stated, "Every previous altcoin season was born here. Bitcoin absorbs. Liquidity returns. The time for real fireworks has come." Some analysts indicate that this decline closely resembles the "great altcoin rotation" prior to the 2019–2020 cycle.
This sentiment is also supported by technical data:
Bitcoin Dominance (BTC.D) decline (