Bitcoin (CRYPTO: BTC) has recently undergone a violent drawdown, shedding roughly 33% of its value in just nine trading days. This move was amplified by a “liquidation cascade,” where traders using leverage were forced to sell as prices hit their stop-loss levels. While Bitcoin struggled, assets like Ethereum and Solana saw even steeper declines of 40% to 45%, largely due to thinner liquidity and higher levels of borrowed capital.

Beyond the technical selling, institutional support wavered as U.S. spot Bitcoin ETFs recorded net outflows exceeding $1 billion. This shift suggests that even the steady hands of long-term holders are being tested, with some capitulating near the local…

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