According to The Kobeissi Letter, BTC fell by $4,000 within six hours as approximately $100 million in leveraged long positions were liquidated minutes after briefly reclaiming the $90,000 level (source: The Kobeissi Letter). The update flags an abrupt intraday reversal around the $90,000 threshold that pressured derivatives traders via rapid long liquidations (source: The Kobeissi Letter).