Bitcoin has corrected from its high of $94,000, falling to the low $90,000s. The sharp price fluctuations on Tuesday resulted in the liquidation of approximately $440 million in derivatives positions, increasing short-term volatility.
According to CoinGecko, Bitcoin has risen more than 7% since the start of 2026, reaching a high of $94,420 on Tuesday. However, it subsequently corrected by approximately 3%, falling to the $91,500 range. The price has since been trading in the $92,000 range. The recent week's upward trend has resulted in an increase in the total cryptocurrency market capitalization of approximately $250 billion.
Tim Sun, a senior researcher at Hashkey Group, analyzed the recent correction, saying, "Easing liquidity conditions and expectations of a Fed rate cut by the end of 2025 drove the rally, but overall market leverage and volatility remained relatively low, limiting further upward momentum." He added, "The market has not yet entered the high-risk, high-leverage phase that marked past strong bull markets."
On the same day, MSCI decided not to exclude certain companies, including MicroStrategy, that held Bitcoin from its indices. Researcher Sun commented, "This decision has reduced the likelihood of forced selling by passive funds due to index changes."
Regarding the future market, he predicted, "In the short term, volatility centered on specific events is more likely to persist than a one-sided upward trend." He added, "In the medium to long term, institutional capital inflows through spot Bitcoin ETFs will be a key variable." He also stated, "Blockchain-related assets with proven payment and settlement infrastructure and real-world use cases are likely to benefit relatively."
