What’s Going On — The Pullback Explained

Here are the main drivers behind the recent crypto pullback:

Liquidations in leveraged positions

A big factor has been forced selling. Over $1.5 billion in leveraged positions got liquidated recently across several major coins.

$ETH saw steep losses.

$BTC also dropped due to these unwindings.

Macro-economic headwinds

U.S. Treasury yields have been rising, increasing the opportunity cost of holding risk assets like crypto.

There’s uncertainty about inflation and how aggressive (or not) central banks will be going forward. Even after recent rate cuts, market participants are cautious.

Technical levels broken / support under pressure

Bitcoin dropped below key support zones around $115,000.

The decline in support triggered more selling, reinforcing the pullback.

“Triple Witching” / Options Expiries

These events (when many options/futures contracts expire simultaneously) have added short-term sell pressure.

The Economic Times

Profit-taking and institutional flows

With some coins having strong runs earlier in 2025, some institutions are taking profits.

Even ETFs (like of $XRP )

had big volumes but saw some selling pressure after their launches.

What To Watch / Possible Scenarios

If support zones (BTC around ~$110,000 or a bit below) hold, we might see consolidation and then another push upward.

If they fail, a deeper correction could occur. Some analysts warn of a possible drop toward $93,000 for BTC under worst-case conditions.

Binance

Altcoins are more volatile in this pullback; some may drop more but also may recover faster.

Macro updates (inflation data, rate decisions, yield changes) will be key triggers for what happens next.