According to @52kskew, $115,000 is the key BTC level now: a reclaim with spot demand implies a backfill toward $120,000 (source: @52kskew on X, Oct 12, 2025). The analyst adds that absorption and rejection would define a $115,000-$110,000 trading range, with the daily close and weekly open pivotal for confirmation (source: @52kskew on X, Oct 12, 2025).

According to @QCPgroup, over $400 million in long positions were liquidated overnight as BTC fell from $118,000 to $115,000 and ETH dropped from $4,500 to $4,300. According to @QCPgroup, the rout extends last week’s 5% BTC drawdown amid more than $1 billion in DeFi liquidations.