- The volatility on June 21 pushed the price of Bitcoin under $ 102.5k.
- The statistics showed that a deeper retracement was probably, especially if the support of $ 100k was lost.
Bitcoin’s [BTC] Long dominance rose by 10% in a week, but the news of the US that bombarded Iran’s nuclear locations last night saw the sentiment of the market sentiment fall.
The geopolitical shock caused panic in crypto markets and BTC fell to the press to $ 100,809.
Of course, the pullback activated a cluster of liquidation levels under $ 103k, which activates a long liquidation cascade, causing the short -term holders to capitulate.
The recent news was $ 127.3 million in Long liquidations In the last 24 hours, and could get worse in the coming days.
This is what Bitcoin traders and investors need to know.
Indications that Bitcoin may be on the way to a deeper withdrawal
Source: Glass node
According to the MVRV Extreme Deviation price tires of Glassnode, the price of BTC fell under the +0.5σ band on June 21. The price was at $ 102,159, while the +0.5σ at $ 102,770 was.
A movement under this band refers historically to a wider correction.
The extreme deviation straps enable us to gauge when the market is in extremely non -realized profit or non -realized loss. It is derived from the MVRV ratio and offers a statistically significant approach.
The last such breakdown in February 2025 even led to a blood of six weeks to the average tire, which was at $ 83,171.
Based on that process, BTC can be on schedule for a return to $ 82k – $ 83k, unless sentiment runs fast.
Buy Power Builds, but will bulls appear?
Source: Cryptoquant
The price decline saw the Stablecoin Supply Ratio (SSR) fall, but it was not nearly near the levels from March and April.
The falling metric meant that the Stablecoin market capitalization increased compared to the market capitalization of BTC, which implied increased purchasing power in the market.
Source: Glass node
Rising purchasing power does not guarantee an immediate uptrend. Despite increasing the offside, the downward risk is still looming.
According to Glassnode, the price decrease of Bitcoin from its high all time was -8.75% on June 21.
Historically, the subtractions in previous cycles varied from 20% to more than 50% before a recovery.
At the beginning of April, BTC saw a correction of 24%, in which investors remind us that even strong rallies often come with painful pullbacks.
A clean outbreak above ATH may not be easy – volatility can continue, with a possible dip below $ 100k before the next large movement.