Bitcoin’s April price drop linked to leverage liquidations: CryptoQuant

CryptoQuant attributes Bitcoin’s late-April price drop to leverage liquidations. The market predicting Bitcoin will reach $80,000 in April sits at 10.5% YES, down from 30% a day ago. Market reaction The market predicting Bitcoin reaching $80,000 dropped from 56% to 18% within minutes of the news. The $150,000 target remains at 0.1% YES. Traders show little confidence in a rapid rebound. Moving the $80,000 market 5 percentage points requires $266,780, so liquidity isn’t the constraint; conviction is. Why it matters Actual USDC volume on the $80,000 target is $141,284, but face value sits at $821,420, which suggests traders are hedging rather than taking outright positions.

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