Bitcoin taps $106K liquidity as bulls defend price with $260M bid
Bitcoin (BTC) targeted $106,000 following the June 3 Wall Street open, indicating a potential bullish turnaround. After a dip below previous all-time highs from late 2024, Bitcoin halted declines amid concerns about testing $100,000 support. Trader Daan Crypto Trades noted liquidity clusters above $110K and below $103K, suggesting possible price movements to capture liquidity. CoinGlass data indicated a potential price "squeeze" with upside liquidity in focus. Material Indicators highlighted significant bid liquidity at $97,750, which could support price stability. Despite an upward trend, there is skepticism about Bitcoin reaching new all-time highs soon without volatility catalysts. Onchain analytics firm Glassnode reported an increase in profit-taking among Bitcoin holders, with the average coin showing a +16% profit, yet the market has not reached a euphoric state typical of previous price peaks.
