Bitcoin (BTCUSD) faced a major sell-off as aggressive market orders shifted sentiment from positive to bearish, reflected by a drop in the derivatives pressure index from 30% to 18%. The sell-off coincided with a total loss of about $128 billion in digital assets.
Bitcoin breached a long-term support level at $107,000, entering bearish territory. Analysts warned of further downside, with forecasts pointing toward a decline to $35,000 by 2026. Derivatives indicators show persistent bearish momentum, and market participants will be watching whether price action can stabilize at key levels or if additional losses lie ahead.
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