Bitcoin’s price recently fell below the crucial level of $105,000 amidst intense market fluctuations and significant liquidations. Key contributing factors include macroeconomic pressures and uncertainty surrounding regulatory conditions, especially with notable outflows from institutional Bitcoin ETFs that amounted to over $536 million. This movement has triggered renewed investor caution across the cryptocurrency market and prompted shifts in asset allocation, highlighting potential market bottoms. Market analysts like Matt Maley of Miller Tabak indicate a shift toward risk-off sentiment reflected in the drop’s impact on both Bitcoin and related cryptocurrencies such as Ethereum. The resulting $5 billion in liquidations underscores this trend, further impacting long positions, causing a notable dip in Bitcoin’s market capitalization. Ethereum also declined, falling below $4,100 in part due to these ETF outflows. This decline was compounded by liquidity pressures and delays in crucial updates within the ecosystem, contributing to a broader market slump. The MVRV Z-score of Bitcoin currently stands at 2.15, suggesting historical accumulation zones that historically align with market bottoms. This suggests opportunities for potential buyers as the market corrects. Past market corrections often show evidence of recovery through on-chain accumulation, offering a positive outlook for investors.