Bitcoin's recent price correction from $116,000 to $103,530 has led to a healthier market structure, according to on-chain analytics firm Glassnode. The drop helped eliminate excess leverage and weaker positions, resulting in a cleaner market environment. Following the correction, Bitcoin rebounded to $110,931, marking a 7% recovery from its recent low. Despite the improved market structure, Glassnode cautioned that momentum indicators remain subdued, and open interest in derivatives has decreased. Analyst PlanB suggested that a significant crash below $100,000 is unlikely given the current market phase.