Bitcoin In Stalemate With Liquidation Traps On Both Sides Of The Market
Bitcoin prices increased by 5.07% over the past week, reaching a peak of $108,000 before facing rejection and stabilizing between $106,000 and $107,000. Analyst KillaXBT identified key liquidation zones crucial for Bitcoin's next price movement. Notable liquidity clusters exist between $103,400 and $106,000 for long positions, indicating that a drop below this range could trigger stop-losses and lead to a price decline. Conversely, significant short positions are present in the $108,000–$109,000 area, suggesting that a breakout above $109,000 could result in a short squeeze, pushing prices towards the all-time high near $111,000. Current trading data shows Bitcoin at $107,451 with a 0.41% daily gain and a 36.12% drop in trading volume. Weekly network fees decreased by 38.9% to $3.39 million, while exchange outflows of $310 million indicate strong market confidence as investors move assets into private wallets.
