Bitcoin price recently tested the critical support level of $92,000 again, drawing high market attention. On Monday, amid a large-scale liquidation shock, Bitcoin briefly fell below this support level, with a single-day liquidation amount reaching $440 million. Entering Tuesday, Bitcoin temporarily rebounded to about $94,400, hitting a seven-week high before quickly retreating, with a low of $91,540, then slightly recovering and stabilizing around $92,670 at press time.
Market analysis suggests that this round of decline is mainly due to profit-taking in stages. After bottoming out and rebounding by the end of 2025, Bitcoin’s price has risen nearly 12% from the low near $84,500 in December. Short-term traders tend to lock in profits at high levels, exerting downward pressure on the price.
Liquidation data further amplifies volatility. CoinGlass shows that in the past 24 hours, approximately $441.5 million worth of Bitcoin-related positions were forcibly liquidated, with long positions accounting for as much as $288 million. Passive liquidation of long positions usually intensifies short-term selling pressure, causing the price to drop rapidly in a short period.
Meanwhile, institutional funds are also showing signs of cooling down. Shortly after BlackRock’s IBIT recorded its largest single-day inflow in three months, Bitcoin spot ETFs overall turned into net outflows. Data from SoSoValue indicates that 12 Bitcoin spot ETFs collectively saw outflows of about $243 million in a single day, putting some short-term pressure on market sentiment.
However, Bitcoin quickly recovered the $92,000 mark, indicating that the overall market structure remains robust. The cryptocurrency fear and greed index remains in the neutral zone at 49, suggesting that this correction is more like liquidity clearing rather than panic selling.
From a technical perspective, the Bitcoin daily chart is forming a “double bottom” pattern, which is a common bullish reversal signal. The current price has not yet effectively broken through the neckline at $94,480, so short-term volatility still exists. Technical indicators show that Aroon Up remains above 85%, and the MACD line has crossed above the zero axis and continues upward, indicating that potential bullish momentum is still accumulating.
If Bitcoin successfully breaks through the resistance zone of $94,400–$94,500, the price could challenge $99,000 again; conversely, if the rally fails, a pullback to the $88,000–$85,000 range cannot be ruled out, which was an important support area last December.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Trump announces "Victory in Iran War," Bitcoin surges strongly back to $70,000, Ethereum rises in tandem
Trump announces that the U.S. military has achieved victory in the military operation against Iran, improving risk sentiment in the financial markets, and cryptocurrencies rebound. Bitcoin rises over 5% to re-enter the $70,000 level, with Ethereum and other digital currencies also recovering. Currently, the market is focused on the stability of the Middle East situation and international oil prices, which have a significant impact on Bitcoin's future trend.
GateNews4m ago
Strive buys Strategy stocks, and Bitcoin Treasury Company begins to intertwine with each other.
Strive has recently increased its Bitcoin holdings by 179 coins, bringing the total to 13,311 coins, and invested $50 million in the preferred stock STRC of Strategy. This series of investments shows that both companies are raising funds through bond issuance and continuing to increase their Bitcoin positions. However, this funding chain structure concentrates risk on Bitcoin, forming a complex "matryoshka" financing model. As interest rates rise, investors face increasing difficulties, and the market becomes more concentrated.
PANews6m ago
Oil Shock Sends Warning to Markets as Bitcoin and Stocks Risk Deeper Crash
Oil price volatility returned to global markets after crude briefly pushed past the $100 level. Brent crude reached a high close to $113 four days ago before retreating toward the mid $90s range. Oil now trades near $94 at the time of writing. That sudden move has forced investors to consider h
CaptainAltcoin8m ago
Will the 2026 U.S. midterm elections become a key turning point for Bitcoin? Historical data shows that BTC bear market bottoms often occur before and after major elections.
As the 2026 U.S. midterm elections approach, the market is paying attention to their impact on Bitcoin's price movement. Historical data shows that midterm election years are usually accompanied by market weakness, with Bitcoin experiencing an average decline of 56%. However, the market tends to recover significantly after the elections, with both the S&P 500 and Bitcoin rebounding. Analysts believe that the second half of 2026 could become a key milestone for the Bitcoin market, but caution is advised regarding new impacts brought by changes in market structure.
GateNews16m ago
Bitcoin surpasses $70,000, currently trading at $70,070
Gate News Report, March 12 — According to market data, Bitcoin broke through the $70,000 mark, currently priced at $70,070.
GateNews24m ago
Dormant Wallet Withdraws 343 BTC Worth $23.85M from CEX After 2-Year Hiatus
Gate News bot message, a wallet address 37ije2 that remained inactive for 2 years withdrew 343 BTC valued at $23.85 million from a centralized exchange in the past 2 hours.
GateNews28m ago
