The recent crypto market crash has caused Bitcoin and Ethereum to face significant losses, with Bitcoin hitting a low of $91,530 before bouncing back. Liquidations in the market have surpassed $2 billion, with bulls taking the brunt of the hit. Market volatility has reached its peak and there is speculation that Bitcoin could break below the $90,000 support level. Bitcoin's price trend suggests a bearish continuation, and if the local support trendline fails, it could test the next support level at $86,707. Open interest has dropped and the long-to-short ratio and funding rate reflect low confidence among bullish traders. Furthermore, 13.10% of Bitcoin's supply has entered the "out-of-the-money" zone. Overall, the current price action signals heightened bearish pressure for Bitcoin.



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