The crypto markets are witnessing a massive surge in liquidations amid Bitcoin’s (BTC) sudden loss of the $100,000 level.
New data from market intelligence platform Coinglass shows traders saw liquidations during the last two days to the tune of $862.4 million, mostly by those betting long on Bitcoin.
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The flagship crypto asset reclaimed the $102,000 level on Monday, but has since plummeted. Bitcoin is trading for $92,721 at time of writing, down 4.7% in the last 24 hours.
Pseudonymous analyst Rekt Capital – who nailed Bitcoin’s pre-halving correction last year – is warning his 528,400 followers on the social media platform X that the crypto king may correct even further before resuming its upward momentum.
“Bitcoin will retrace deep enough to convince you that the bull market is over. And then it will resume its uptrend.”
The analyst is also warning of market volatility for the rest of the week after BTC failed to flip a key resistance level into support.
“The orange technical uptrend continues to act as a resistance, indeed facilitating the retest of the blue area. However, the retest of the blue area is currently a volatile one and with still a big part of the week to go, lots could still change here.”
Lastly, the analyst predicts that Bitcoin’s bear market will begin at some point this year and stretch into most of 2026 if BTC follows the traditional halving cycle.
“2025 will likely see the BTC bull market peak and the beginnings of a brand new bear market (Candle 1). The majority of the bear market will take place however in 2026 (Candle 2). The bear market would last some 365+ days and be between -65% to -80% deep.”
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