TechFlow reported on February 26 that Adam, a macro researcher at Greeks.live, published an English community briefing on X, stating that Bitcoin plunged from above $100,000 to a low near $80,000. Multiple traders believe this sell-off may stem from a single "stealthy" large seller, and a meaningful rebound is unlikely until this entity completes its selling.
Traders described the downturn as “contagion,” with a key support level at $86,000. A break below this could lead the market into a “vacuum zone” down to the $72,000–$77,000 range, with some even anticipating a further drop to $65,000.
The market dropped $6,000 in a single day, accompanied by massive forced liquidations, causing significant losses for most traders. Despite the bearish sentiment, some are looking for potential range-trading opportunities between $85,000 and $90,000, viewing $89,000–$91,000 as critical recovery levels. A minority sees the current situation as a buying opportunity, closely watching heavy bid accumulations at $77,000 and $72,000 as potential bottoming zones.
