Bitcoin’s (CRYPTO: BTC) rally to $126,000 marked a premature cycle top, which forced a deeper reset toward the $60,000 region instead of making a run to $150,000.
Was A Liquidation Cascade The Catalyst?
Trader BitQuant on Wednesday analyzed the market swing, saying the early peak signaled a structural shift before a proper distribution phase could unfold.
On Oct. 10, a Binance technical issue sparked a sharp drop from about $120,000 to $105,000.
While some viewed the move as manipulation, BitQuant argued it was merely a catalyst — not the root cause of the broader decline.
In a healthier structure, Bitcoin would have …