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Bitcoin Price Falls from $108K to $97K Amid Record Liquidations
Bitcoin (BTC) has experienced a sharp decline over the last three days, losing approximately 10% of its market value as prices fell from around $108,000 to near $97,000. The sudden drop hit key short-term support levels, forcing positions that had remained untouched since October to liquidate.
Samson Mow Calls the Decline an “Obvious Bear Trap”
Prominent crypto figure Samson Mow, known for his involvement in the ongoing $1 million Bitcoin debate, downplayed the sell-off, labeling it an “obvious bear trap.” According to Mow, the recent movement was less about a structural breakdown and more about short-term forced liquidations clearing the market.
Record Realized Losses Signal Capitulation
Data from Glassnode revealed that the drop produced the largest realized-loss print of the quarter, as coins in the 3–6 month age bracket moved, resulting in roughly $600 million lost within an hour. This cohort usually represents holders who are less reactive, so the mass exit highlights frayed nerves finally giving way.
Spot Market Response and Liquidation Cleanup
Despite the turbulence, Bitcoin quickly recovered once forced liquidation waves passed. Most of the downward pressure originated from overextended positions, rather than widespread selling. Analysts at Cleanup Derivatives desks identified three concentration zones—around $101,000, $99,500, and $97,800—where old long positions were wiped out. Once these pockets were cleared, the market no longer exhibited the aggressive follow-through typical of deeper unwindings.
What This Means for Bitcoin
The combination of local capitulation, liquidation-driven flow, and rapid spot market response suggests that the slump was more of a market cleanup than a structural break. With the immediate selling pressure now behind it, the market’s attention remains on how Bitcoin behaves around the $97,000 level.
