Bitcoin drops under $100K, triggering $117M in long liquidations in one hour

The recent decline of Bitcoin below the $100,000 mark has raised concerns among traders, leading to $117 million in long liquidations in just one hour. This drop follows a failed recovery attempt above $105,000, with Bitcoin now trading near $97,000. Analysts suggest that if Bitcoin fails to hold above $94,000, a bear cycle may be confirmed. The current market sentiment reflects growing anxiety as traders navigate this volatile landscape, highlighting the risks associated with overleveraging in cryptocurrency trading.