Bitcoin Liquidity Blocks Tell A Story: Here’s Why $96,000-$111,000 Is Most Important
Bitcoin is currently trading at $102,200, reflecting a 2.5% decline over the past 24 hours. This decline has resulted in $65.47 million in liquidations, predominantly affecting long positions. A critical price range between $96,000 and $111,000 has been identified as pivotal for future market direction, with significant liquidity blocks present. The largest liquidity cluster is near $109,700, just above Bitcoin's recent all-time high of $108,786. This proximity suggests potential volatility as Bitcoin approaches these levels. A breakout above $110,000 could initiate a significant price movement, while a lack of liquidity below this range poses risks for a price breakdown. The market has experienced prolonged sideways trading, testing investor patience, particularly affecting short-term traders.
