Bitcoin Bounces Back, But Fragile Market Sentiment Persists

After a sharp drop below $84,000 triggered nearly $500 million in derivatives liquidations, Bitcoin has rebounded above $93,000. However, this recovery may not signal a lasting shift in market structure, as market depth remains uneven and traders remain cautious. 457 million US dollars in short positions were liquidated in the past 24 hours, but overall market sentiment remains fragile. This volatility is likely driven by macro risks like thin weekend liquidity, concerns over debt exposure in strategy-linked ETFs and upcoming MSCI methodology review, alongside regulatory uncertainty.