Bitcoin’s price momentum may be hitting a bump in the road as the broader crypto market experiences a wave of turbulence. After a strong start to the week, BTC is now at risk of dipping below the $100,000 mark—a psychological level many traders are watching closely. This shift comes amid a dramatic surge in crypto liquidations, with over $714 million wiped from the market in just 24 hours.
Market Optimism Cools Off
Just a day ago, Bitcoin was trading confidently above $105,000, buoyed by renewed optimism following signs of easing tensions in the long-standing U.S.–China trade standoff. The relief helped lift sentiment across risk-on assets, including crypto. However, the mood quickly reversed as volatility took center stage.
As of now, Bitcoin is trading at $102,315, having shed nearly 2% in a 24-hour span. While that might seem minor, the sudden shift was enough to spark widespread liquidations and prompt concerns about whether BTC’s bullish momentum might be faltering—or simply taking a breather.
Technical Indicators Flash Mixed Signals
From a technical perspective, the current setup is sending mixed messages. The Relative Strength Index (RSI) sits at 68.58, nearing the overbought threshold of 70. At the same time, Bollinger Bands are widening, with BTC hovering around the upper range—often a precursor to a reversal or correction.
On a 7-day timeline, Bitcoin remains in positive territory, posting a 9% gain. Still, traders and analysts are approaching the current price action with caution. The swift pullback suggests that BTC may have been slightly overextended, especially as speculative altcoin trading added extra heat to the market earlier in the week.
$714 Million Liquidated: Who Got Burned?
The biggest headline of the day might not be Bitcoin’s price itself, but rather the fallout in the futures market. In the span of several hours, more than 213,700 traders were liquidated as positions were forcibly closed. According to on-chain data, Bitcoin accounted for over $202 million in liquidations, with long traders—those betting on continued upward movement—taking the biggest hit, losing $141 million.
Other major altcoins saw similar carnage, reflecting the interconnectedness of crypto market sentiment. The whipsaw action serves as a harsh reminder of just how volatile and unforgiving leverage trading can be in a fast-moving environment.
Despite the Noise, Bullish Underpinnings Remain
While the short-term picture may look shaky, longer-term signals remain encouraging. Institutional demand continues to climb, offering a more stable foundation beneath Bitcoin’s current price level. For example, Strategy recently added 13,390 BTC to its holdings in a $1.34 billion investment. Meanwhile, Metaplanet made headlines by executing its largest-ever Bitcoin purchase, signaling continued confidence in the asset’s future potential.
These moves suggest that while retail investors might be jittery, big money is still flowing into Bitcoin, viewing the dips as buying opportunities rather than reasons to panic.
Analysts Eye $99,500 as a Key Support
Top crypto analyst Titan of Crypto weighed in on the current pullback via X (formerly Twitter), suggesting that Bitcoin may dip slightly further, potentially testing the $99,500 range, which he identifies as the daily Fair Value Gap. However, Titan emphasized that BTC is still maintaining an upward trajectory and noted that the structure of the chart remains bullish.
According to him, while a brief slide below $100K isn’t off the table, it’s unlikely to trigger a full-blown reversal. Instead, it could act as a launchpad for another leg up, especially if macro conditions remain favorable and institutional interest holds steady.
Final Thoughts
While the crypto market is clearly in the midst of a shakeout, the underlying fundamentals for Bitcoin remain intact. With heightened volatility, traders should brace for sudden moves—but long-term believers may see this as just another test of conviction in BTC’s continued rise.
