Bitcoin experienced significant volatility, with its market cap swinging by $140 billion as the price surged to $90,000 before retreating to $86,000. This movement resulted in $320 million in liquidations, while active Bitcoin addresses fell to a 12-month low. Despite the volatility, Bitcoin remains above the key $83,900 Fibonacci support level, and a golden cross formation suggests potential for further gains. However, cooling on-chain activity raises concerns about near-term price stability.