According to @52kskew, BTC is in a steady, well-managed sell-off led by spot selling. Source: @52kskew. The 92,000 level was a high-liquidity area on perpetual futures and is being treated by the market as a trend-starting pivot. Source: @52kskew. Staying below 92,000 deepens selling pressure, while a reclaim of 92,000 could draw renewed demand later. Source: @52kskew.

According to Cas Abbé, Bitcoin's spot selling pressure has now surpassed levels seen during the FTX crash. Despite this increase in selling pressure, BTC's price remains resilient above $95K, indicating potential seller exhaustion. This resilience amidst high liquidation events suggests a possible stabilization or reversal in the market. Cas Abbé's analysis highlights the critical nature of these developments for traders.