➡️📊⬅️Bitcoin Hits $100K: A Higher Low Could Be Ahead 🤯

Bitcoin remains at a critical juncture as it struggles to maintain the $100,000 support level amid mounting liquidity challenges. Despite attempts to form a higher low, market indicators suggest a cautious outlook, with experts pointing to a potential bottoming phase that could precede a bullish rebound in the cryptocurrency markets.

Bitcoin faces ongoing liquidity contests as it tests support at $100,000, with traders watching for signs of reversal.

Price action indicates a possible formation of a higher low, supported by strengthening RSI signals, hinting at underlying buying interest.

Recent data shows significant liquidations and liquidity shearing that highlight the fragility and strategic maneuvers of large traders. On-chain analytics suggest Bitcoin may be approaching a bottom, increasing the prospects for a new rally in the near term.

A key indicator, the cumulative volume delta on Bitcoin futures, points toward fading speculative selling pressure, bolstering a potential recovery narrative.

Bitcoin (BTC) once again challenged the key $100,000 support zone Friday, as bullish traders continue to hope for a trend reversal. Market sentiment remains cautious amid increased volatility and liquidity push-and-pull, with many looking for further signals of strength amidst the uncertain environment. BTC price falls victim to "liquidity herding game" . Bitcoin's retreat to nearly $99,000 during the Wall Street open, underscoring persistent selling pressure.

After failing to sustain a significant relief rally from multi-month lows, BTC/USD faced continued downward pressure, prompting traders to reassess their long positions. Liquidation data from CoinGlass indicated over $700 million in crypto long liquidations over the past 24 hours, further illustrating the risk-off sentiment prevailing in the markets.

Total crypto liquidations (screenshot).

Market participants continued to see large-volume traders influencing short-term trends, with liquidity pools fluctuating both above and below current price levels.

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