- Bitcoin stays above $95,000 even after its biggest sell-off since 2022
- Dropping below $93K could trigger $1.7B in liquidations
- Trade war fears between the U.S. and China fuel market uncertainty
- Investors await Trump-Xi meeting for potential market relief
Bitcoin is standing strong despite one of the largest selling events in recent years. On February 9, the price briefly dipped to $94,726 before bouncing back, proving there’s still plenty of demand in the market.
BTC/USD, 1-month chart. Source: Cointelegraph
According to Bitwise Europe’s André Dragosch, this was the highest selling pressure on Bitcoin since the collapse of Three Arrows Capital (3AC) in 2022. However, unlike past crashes, Bitcoin didn’t spiral down—it’s still holding its ground near $100K.
WHALES ARE BUYING #BITCOIN LIKE NEVER SEEN BEFORE 👀
TIGHTEN YOUR SEATBEALTS 🚀 pic.twitter.com/b1o6W6cN5f
— Vivek⚡️ (@Vivek4real_) February 10, 2025
“Despite massive selling, Bitcoin is showing resilience. This could signal seller exhaustion,” Dragosch noted.
That’s a promising sign for Bitcoin bulls, but there’s still one key support level that could determine where the market heads next.
$93K: The Make-or-Break Level for Bitcoin
📉 Why is $93K so important?
*** WATCH: We have just reached the highest amount of selling pressure on Bitcoin spot exchanges since the collapse of 3AC in June 2022.
Yet, the price is still close to 100k USD.
Seller exhaustion. 🔥 pic.twitter.com/NDFaHYlfyk
— André Dragosch, PhD | Bitcoin & Macro ⚡ (@Andre_Dragosch) February 10, 2025
- If Bitcoin drops below $93K, it could trigger $1.7 billion in liquidations.
- The next safety net sits at $91,500—if that breaks, Bitcoin could slide below $90K.
- Right now, traders aren’t taking big risks, waiting to see how the situation unfolds.
What’s causing the pressure?
The biggest issue at play is escalating trade tensions between the U.S. and China. Both countries have recently introduced new import tariffs, which have created uncertainty across global markets. Bitcoin, often seen as a hedge against financial instability, has felt the impact of these tensions.
Will Bitcoin Hold or Dip? All Eyes on Trump-Xi Meeting
Investors are now watching closely as President Donald Trump prepares to meet with Chinese President Xi Jinping.
This high-stakes meeting, originally planned for February 11, is meant to ease trade tensions and bring stability to financial markets. However, there are reports that the meeting might be delayed, leaving markets on edge.
Trump is helping China in Latin America; Xi Jinping is out-negotiating Trump in South & Central America, expanding China’s influence. https://t.co/ABrfZbx9S0
— POLITICS WATCH ® (@PoliticsWatch) February 10, 2025
A positive outcome could send Bitcoin soaring back toward $100K, while more uncertainty could push it below $93K—a level traders don’t want to see break.
For now, Bitcoin is holding its ground, but with market volatility rising, things could shift very quickly. Stay tuned.
