On-chain analyst Axel Adler Jr. analyzed that if Bitcoin (BTC) falls below $83,000, new long positions entered above that level could be liquidated, potentially expanding the downtrend. He explained through his blog, "Buy pressure in the BTC futures market has risen to its highest level since August 19, and open interest increased by approximately 8,900 BTC over 24 hours. During the same period, the BTC price rose from $83,400 to $85,300. Even if buy pressure slows down, maintaining above $85,000 can be seen as a sign of preserving the gains."
