Bitcoin’s Correction: No Capitulation, Just Consolidation

Despite dropping below the $105,000 mark on Thursday, Bitcoin appears to be weathering this correction without experiencing a full-blown sell-off. On-chain data points to a more resilient market structure than in 2020 or 2021, where exchanges saw significant inflows during prior downturns. The latest move contrasts with earlier corrections where reserves surged as investors rushed to liquidate their holdings. CryptoQuant reports that balances remain close to their lowest levels ever, highlighting a leaner Bitcoin supply on trading platforms.