Bitcoin drop under $100K as open interest flush happen amid geopolitical tension
Bitcoin price fall comot for $100,000 barrier, e shut for $98,385 (e lowest for 45 days) before e try small bounce back reach $101,849. Open Interest (OI) for BTC futures drop come down from $80.31 billion to $67.71 billion, which be classic leverage flush wey clear weak hands. On-chain data show say spot exchange reserves reach lowest for many years, plus BTC dominance climb reach 65.76%, di highest for 4 years. Even though U.S. don strike Iranian places recently, plus Russia hint say dem go support with nuclear and possible say Strait of Hormuz fit close, market dey reason say di fight go short. Realized profits drop reach $753 million—under di $1 billion threshold wey dem dey distribute—show say holders dey disciplined. Estimated Leverage Ratio (ELR) fall to -0.25, e fit compare to wetin happen during China 2021 crypto ban. Traders need to watch the key $100,000 support: if e break, e fit trigger deep correction, but if e bounce for here, e usually be sign say recovery dey. Overall, di leverage flush and steady BTC dominance show say geopolitical risk high and market dey cautious.
Bearish
Di combined news dey show serious pressure to make Bitcoin price drop, na because open interest sharply reduce and political wahala dey increase. When e drop under $100K plus on-chain signs like low exchange reserves and high BTC dominance, e show say traders dey cautious. Realized profits and negative Estimated Leverage Ratio show say holders sabi control themselves, but if key support levels break, e fit cause more sell-off. For short term, market stability dey under threat because people fit start to build leverage again before new shocks, which mean bearish trend. But long term, past patterns of short geopolitical adjustments and strong support areas suggest say recovery go happen, but near-term risks still dey strong.