5 hours ago
Bitcoin is overdue a enactment retest, and order-book liquidity points to a travel beneath $119,000 adjacent — will the marketplace punish precocious buyers?
Key points:
Bitcoin surfs speech order-book liquidity arsenic immense gains plateau astatine astir $120,000.
Bid enactment suggests a instrumentality beneath $119,000 adjacent arsenic portion of an anticipated retest.
One trader warns of a imaginable “pump and dump” ploy to trap precocious buyers astatine higher levels.
Bitcoin (BTC) consolidated gains astatine the Monday Wall Street unfastened arsenic analysts braced for a BTC terms correction.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
BTC terms cools amid “rug pull” warning
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $121,000 arsenic the week’s archetypal US trading league began.
New all-time highs adjacent $123,250 had capped a blistering rally earlier today, with Bitcoin inactive up implicit 10% successful a week.
While galore expected the marketplace to intermission for enactment aft specified accelerated upside, trading assets Material Indicators was cautious.
“Don't get trapped!” it warned followers successful its latest station connected X.
“That $BTC bargain partition astatine $120.5k seems similar it whitethorn beryllium determination to lure successful precocious longs earlier a enactment test.”
BTC/USDT order-book liquidity data. Source: Material Indicators/XAn accompanying illustration showed order-book liquidity for the BTC/USDT trading brace connected largest planetary speech Binance.
“Watch retired for a rug propulsion if terms gets close,” Material Indicators added.
“The rhythm apical is not successful yet, but determination should beryllium a enactment trial earlier a sustainable tally done $130k.”As Cointelegraph reported, order-book liquidity manipulation has played a cardinal relation successful short-term BTC terms enactment successful caller months, with large-volume traders shifting bids and asks astir to pull terms successful a definite direction.
The latest information from CoinGlass connected the time highlighted cardinal enactment opening astatine $118,800, leaving the doorway unfastened for a astir 2% correction next.
Total BTC abbreviated liquidations successful the 24 hours to the clip of penning were $432 million.
Binance BTC/USDT liquidation heatmap. Source: CoinGlass“We request to beryllium alert of much manipulation,” fashionable trader CrypNuevo continued successful his ain X investigation connected the day.
“This could besides beryllium portion of a pump-and-dump play pattern. Caution.”
BTC/USDT 4-hour chart. Source: CrypNuevo/XPro traders enactment “selective” astatine $120,000
Amid a deficiency of classical signs of “FOMO,” trading steadfast QCP Capital saw crushed for continued optimism.
Related: BTC terms successful 'crisis mode' astatine $123K: 5 things to cognize successful Bitcoin this week
“This could bespeak a maturing marketplace dynamic, and the aforesaid could beryllium said for ETH,” it wrote successful its latest bulletin to Telegram transmission subscribers.
“Another information is that traders whitethorn beryllium opting to explicit directional views done perpetuals alternatively than options, fixed the elevated outgo of optionality successful fast-moving markets.”QCP suggested that traders whitethorn privation to hedge against low-timeframe volatility “while maintaining a longer-term bullish outlook.”
“We support our structurally bullish presumption connected BTC, underpinned by continued organization inflows and macro tailwinds,” it concluded.
“However, astatine existent levels, we similar to beryllium selective and are holding backmost from chasing the rally successful favour of positioning connected a pullback, should it occur.”📈 BULLISH: Anthony Pompliano calls Bitcoin the “Greatest Show connected Wall Street” arsenic ETFs, treasuries, retail and sovereign funds heap successful astatine all-time highs. pic.twitter.com/RdTE3Po49r
— Cointelegraph (@Cointelegraph) July 14, 2025This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
English (US) 