Bitcoin remained above $92,000 after failing to break $98,000, with futures premiums holding near 5%, suggesting leveraged demand was largely unchanged.
The price faced a 3.4% weekend correction as investors reduced risk exposure amid rising global geopolitical tensions and slowing economic growth in China.
A sudden retest of the $92,000 level triggered the liquidation of $215 million in leveraged BTC long positions, raising fears of a deeper correction.Bitcoin spot exchange-traded funds recorded $395 million in net outflows as gold prices surged to record highs, weakening Bitcoin’s hedge narrative.
Broader markets showed caution, with European equities falling and investors shifting towards cash and precious metals during a US market holiday.
Analysts noted that Bitcoin continues to be viewed as a risk-on asset, despite briefly reclaiming the $93,000 level.
BTC derivatives data showed fading enthusiasm, as the options delta skew rose to 8%, signalling increased demand for downside protection.
Market sentiment was further pressured by uncertainty surrounding US trade policy after President Donald Trump proposed new tariffs on European imports.
China reported 4.5% year-on-year economic growth in the final quarter of 2025, its weakest pace since 2022, adding to global slowdown concerns.
Onchain data showed declining Bitcoin network activity, with daily active addresses falling 13% over two weeks, raising questions about miner revenue sustainability.
At the time of reporting, Bitcoin price was $92,758.75.