Bitcoin fell to $92,980 in late trading on December 5. The move followed an all-time high earlier in the day, when the Coinbase asset nearly hit $104,000.

The immediate 10% drop in BTC’s price came after leverage was eliminated.

The return to five-digits came after leading global media outlets reported that Bitcoin had surpassed $100,000 for the first time.

“The interesting takeaway from this move is that ETFs did not follow suit at all,” the market analysts noted, adding:

“This was a purely spot move in Bitcoin, driven by, you guessed it, leverage.”

According to Coinglass, 163,587 traders were liquidated in the last 24 hours, with the total value of losses amounting to more than $900 million, 80% of which were long positions.

“Towards the end of the week, a sharp downward move washed away the leverage wave, other coins did not follow suit, and the long side of the entire crypto market is very strong,” commented crypto derivatives provider Greeks Live.

The crash and correction returned the asset to the range where it has been trading since mid-November.

As noted above, spot Bitcoin ETFs did not flinch, while spot markets lost their leverage.

11 Bitcoin ETFs in the US showed steady momentum, with a combined inflow of $748 million on Thursday. BlackRock's IBIT fund led the way with $751.6 million in inflows, while Grayscale's GBTC received $149 million, according to Coinglass.

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