<ul><li>Bitcoin is currently trading just below the $87,000 mark, reflecting a 0.8% decline in the past 24 hours.</li><li>A significant long liquidation event occurred, with $359.7 million worth of long positions being closed, indicating a potential shift in sentiment and short-term sell-offs.</li><li>Bitcoin's realized price distribution by UTXO age bands shows that recent buyers are holding unrealized profits, and support near $84K may act as a technical level in case of a dip.</li><li>While there is a possibility for Bitcoin to either fall or continue rising, caution is advised given the current market dynamics.</li></ul>

Are the Bulls Still in Control? Bitcoin Faces Pressure After Massive Long Position Wipeout

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