Bitcoin eyes sub-$100K liquidity — Watch these BTC price levels next

6 hours ago

Key points:

Bitcoin (BTC) is astatine its highest levels since January, and traders are eyeing cardinal levels to ticker for what’s next.
After hitting $104,000, BTC/USD is retracing to found support, but the destiny of $100,000 is among the concerns for marketplace participants.
Current terms enactment represents an important battleground, arsenic measured from the $75,000 lows this year.

” Headline driven” BTC terms gains gully scrutiny

Just $6,000 from caller all-time highs, per information from Cointelegraph Markets Pro and TradingView, BTC terms enactment has stunned the marketplace by jumping 10% successful days.

The gait of the BTC terms gains has travel arsenic a astonishment for many, but longer-term perspectives amusement wherever the astir hard battleground lies.

“Since this existent impulse was chiefly header driven again this puts markets into a important & captious trading day,” trader Skew said astir the impetus for the determination successful an X post connected May 8.

Skew refers to a communal taxable uniting BTC terms volatility successful caller weeks and months. Bitcoin and hazard assets person become highly sensitive to headlines and adjacent societal media posts involving US President Donald Trump and his commercialized tariffs.

The latest lawsuit involves a commercialized woody betwixt the US and UK, but however agelong optimism endures remains an unfastened bet.

“I’m definite markets are hoping this has a footwear connected effect to get commercialized deals connected the array for different large commercialized parties similar EU & China,” Skew continued.

Another X station said what is needed present are “passive flows,” beardown measurement to enactment recently revisited levels and crook them into beardown support.

Skew added:

“Passive flows volition beryllium important for accepting higher worth particularly aft specified a ample marketplace bid which led terms to interruption $100K.”

Fibonacci levels spotlight important bull marketplace battle

Current section highs for BTC/USD person breached the $104,000 mark, and zooming out, Fibonacci retracement investigation reveals that terms is present successful a cardinal zone.

“$BTC is astatine the past method level to wide earlier caller ATHs,” commentator Patric H. announced successful an X post.

“Bitcoin has already decisively cleared the 1.618 FIB and is present trading astatine the volume-area precocious (VAH) + a anemic absorption trendline.”

An accompanying illustration offered important Fibonacci levels arsenic measured from Bitcoin’s section lows astir $75,000.

Another trading account, Kingpin Crypto, revealed a conspicuous breakout effort for the 1.618 Fibonacci level connected the monthly chart.

“Rejection and pullback from 1.618 lasted a spot longer till May. However, can’t contradict however beautifully the fib level played out,” it said.

Liquidations waiting successful the wings

A cautionary enactment progressive bid publication liquidity astatine existent levels.

The latest information from monitoring assets CoinGlass showed terms eating distant astatine bids instantly beneath $103,000, with the bulk of involvement clustered beneath $100,000.

To the upside, however, small friction remained, with the bulk of liquidations having already occurred connected the instrumentality to six figures.

“There’s overmuch little abbreviated liquidity clustered above,” trader TheKingfisher confirmed connected X.

“This notable imbalance makes the downside liquidation portion a imaginable cardinal country to ticker for volatility oregon terms attraction.”

This 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.

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