Bitcoin is on the threshold of 85,000 dollars, altcoins have dropped sharply.

Bitcoin is at risk of falling below the 85,000 dollar level. This situation has accelerated the decline in the cryptocurrency market.

Solana, Cardano, ADA, SUI, and Dogecoin experienced significant drops on Thursday.

Approximately 550 million dollars worth of liquidations occurred in the derivatives markets. However, analysts suggest that this pullback appears to be more of a systematic leverage reduction process rather than a panic-driven sell-off.