Bitcoin News
By Maheen Hernandez
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The cryptocurrency market recently experienced a significant shake-up, with liquidations exceeding $1 billion across various assets.
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The massive liquidation event followed a highly volatile period in the market, triggered by a public spat between Elon Musk and Donald Trump.
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The immediate aftermath saw Bitcoin’s price dropping below the crucial $102,000 mark, signaling a sharp correction.
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Why Are the Odds Favoring an Upside Move?
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According to Alphractal’s Aggregated Liquidation Heatmap, the most intense liquidation activity clustered between $107,000 and $114,000.
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If Bitcoin drops below $99,000, some analysts warn it could decline further to around $93,000, aligning with the Short-Term Holder Realized Price — a level often seen as a…
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On the other hand, the forced liquidation of leveraged long positions above $100,000 may have effectively “reset” the market.
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The Critical Resistance Zone: $113,000 to $114,000
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Traders are now closely monitoring Bitcoin’s performance around the $113,000 to $114,000 price zone.
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However, the political and economic uncertainty fueled by ongoing debates over the US debt ceiling and fiscal policies could continue to unsettle the market.
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Despite this, Trump himself posted on his social media platform, Truth Social, expressing that he remained unfazed by Musk’s opposition.
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Another important technical development is Bitcoin’s recent revisit of the Golden Cross level—a bullish indicator where the 50-day moving average crosses above the 200-day moving…
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If Bitcoin can hold above the $100,000 level and push higher, it stands a chance to retest resistance points at $106,000 and $111,000.
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Conversely, failure to maintain support above $99,000 would likely push Bitcoin back into a downtrend, possibly dragging the price down toward the $93,000 to $97,000 range—a…
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Overall, Bitcoin is at a crossroads after the recent liquidation spike. Holding above $100,000 and reclaiming the $103,000 to $106,000 range would increase the likelihood of…
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