Bitcoin falls to $98K as futures liquidations soar: Should bulls expect a bounce?
Bitcoin dropped to $98,000 on Nov. 13 after several technical supports failed to produce meaningful buying, pushing futures long positions into mass liquidation. The rapid unwind in derivatives markets amplified intraday volatility and briefly sent price action below levels many traders had viewed as backstops, forcing algorithmic and leveraged players to cut exposure.
A short-term relief bounce remains possible if spot buyers step in to absorb the remaining sell pressure and leverage is further reduced, but a stable recovery would require reclaiming lost supports and renewed demand from larger buyers. For traders and investors, the episode underscores elevated systemic risk from high leverage: until open interest and funding pressures ease, sharp swings and liquidation cascades can keep price action choppy.