Bitcoin experienced a significant correction from $115,000 to below $105,000 last week. Analyst Burak Kesmeci identified seven key on-chain metrics during this decline that signal extreme market fear but potentially indicate a forming local bottom.

While Bitcoin experienced a steady correction falling below $105,000 on Friday with crypto liquidations exceeding $1.2 billion, on-chain data reveals significant accumulation activity that could signal a potential bullish reversal.

Bitcoin's price continues its October decline after briefly recovering to $116,000 post-tariff crash. On-chain metrics now highlight $100,000 as a crucial psychological and technical support level that could determine the market's next direction.