TLDR
- Bitcoin briefly touched $93,000 before rebounding early Monday.
- $510 million in crypto liquidations occurred in a single 24-hour period.
- Fear and Greed Index dropped to 10, showing extreme market fear.
- Key support zones lie at $93,500 and between $89,000 and $91,000.
Bitcoin shocked the market after dropping to $93,000 early Monday, and the move set off a sharp wave of liquidations across major exchanges. Traders watched fear rise fast as the Fear and Greed Index fell to 10, marking one of the lowest readings of the year. The drop also erased all of Bitcoin’s 2025 gains and forced analysts to reassess key support areas as volatility grew through the day.
Sharp Decline Pushes BTC to New Monthly Low
Bitcoin fell to $93,000 during early Asian hours before recovering some ground later in the session. The decline marked a return to levels last seen in late 2024 and removed the asset’s year-to-date gains for 2025. The move also came after a 24% correction from the early October peak at $126,000.
Market sentiment shifted as traders reacted to the weekend trend. For the first time in several weeks, Bitcoin failed to hold gains during the weekend. Analyst KillaXBT said this change formed a bearish setup as the new week began. He noted that past data showed around a 36% chance that Monday could form a short-term low.
The Fear and Greed Index dropped to 10 during the decline. This reading stood in sharp contrast to November 2024, when the index reached 93 during a bullish phase. The rapid swing shows the fast shift in emotions across the market.
Liquidations Surge as Traders Face Heavy Losses
The drop to $93,000 caused over $510 million in liquidations within 24 hours. More than 150,000 traders were affected as long positions faced the most pressure. During one hour alone, long liquidations reached $40.37 million, and over four hours they totaled about $77 million.
Bitcoin long liquidations amounted to $41.61 million, while Ethereum saw $13.99 million. Other major assets such as Solana, XRP, and Dogecoin also saw heavy liquidations as their prices fell in line with Bitcoin.
Several exchanges reported increased activity as traders reduced risk. The cascade of forced closures added to the downward pressure on price, and funding rates turned negative across many platforms during the session.
Support Zones Become Key Focus for Traders
Analyst KillaXBT pointed to several support areas that may guide Bitcoin’s next move. The first zone sits at $94,100, followed by a deeper support area at $93,500, which matches the opening price for the year. Another support range lies between $89,000 and $91,000.
These zones typically show strong trading interest and higher open interest. However, the analyst warned traders against using high leverage due to current volatility. With intraday swings of 4–5%, traders may face increased liquidation risk if positions remain highly leveraged.
A drop below $85,000 would cancel bullish recovery patterns and suggest a deeper trend change. If buyers step in at lower support areas, Bitcoin may attempt to retest $100,000, though resistance at $98,300 must be cleared first.
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