Bitcoin’s four-day drop to $104,000 triggered what analysts call a “defensive rotation” among crypto investors, but onchain data suggests the correction was a healthy reset rather than the start of a broader market crash.

Bitcoin ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/bitcoin-price”>BTC) experienced a four-day crash last week, falling from $115,000 on Oct. 14 to a four-month low of $104,000 by Friday, a level last seen in June, data-ct-non-breakable=”null” href=”https://www.tradingview.com/chart/JBpUV8Q8/?symbol=BITSTAMP%3ABTCUSD” rel=”noopener nofollow” target=”_blank”>TradingView data shows.

Despite the decline, analysts said the correction flushed out excess leverage, prompting investors to shift from chasing gains to protecting…

Bitcoin’s four-day drop to $104,000 triggered what analysts call a “defensive rotation” among crypto investors, but onchain data suggests the correction was a healthy reset rather than the start of a broader market crash.

Bitcoin ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/bitcoin-price”>BTC) experienced a four-day crash last week, falling from $115,000 on Oct. 14 to a four-month low of $104,000 by Friday, a level last seen in June, data-ct-non-breakable=”null” href=”https://www.tradingview.com/chart/JBpUV8Q8/?symbol=BITSTAMP%3ABTCUSD” rel=”noopener nofollow” target=”_blank”>TradingView data shows.

Despite the decline, analysts said the correction flushed out excess leverage, prompting investors to shift from chasing gains to protecting…