Bitcoin Price Plunges: Is a Bullish Reversal Brewing?

Bitcoin (BTC) has experienced a significant price drop, plunging nearly 7% in the past 24 hours and falling to $85,863. This marks another severe correction from its October peak of $126,080 and wipes out all of its gains for 2025. The market-wide impact has been substantial, triggering over $956 million in liquidations. Long traders have borne the brunt of the move, losing nearly $836 million as overleveraged positions were liquidated in a classic cascading effect.