Key Takeaways:
Bitcoin price is currently hanging out around $105,000, as liquidity builds up like a crowd waiting for a concert.
After failing to break through the $106,000 barrier, BTC/USD is taking a step back, preparing to test support levels. But the $100,000 mark is where the real drama is going down.
So, Bitcoin’s price has dropped 6% from its glorious all-time high of $111,900, and now traders are making bold predictions that we might be in for a “larger correction” this June. Yes, you read that right – $100,000 is the new battleground, folks.
Bitcoin’s Lifeline: The $100K Support
In a move that’s getting repetitive faster than your favorite soap opera, Bitcoin managed to stay above $100,000 for over three weeks after its dramatic May 8 rise. Now, this is the critical point everyone’s eyeing, and for once, it hasn’t been tested properly lately.
Michael van de Poppe, the self-proclaimed wizard of MN Capital, spotted Bitcoin chilling at $104,300. He’s saying that after its failed attempt to break $106,000, BTC might drop even further before summoning its powers for another upward push.
Check out this chart below that shows $100,000 as the golden number on BTC’s four-hour timeline. Seems like Bitcoin’s playing a game of “Will it or won’t it?”
“Clear rejection on #Bitcoin implying that we’re going to see lower prices before we see upwards momentum.”
Meanwhile, CrypNuevo, a mysterious figure in the crypto world, shared a chart revealing that Bitcoin failed to flip $106,000 from a pesky resistance to friendly support. So, what’s next? Heading to the psychological level of $100K, of course!
“So we could likely head to $100K psychological level + 150EMA.”
And then there’s AlphaBTC, a popular analyst who thinks BTC might fall all the way to $90,000 if that pesky $100,000 support level gives up the ghost.
“$BTC is likely to go sideways for some time as this larger correction plays out in the first weeks of June, waiting for more hard data and the FOMC on June 18.”
CryptoMoon, a source you can trust when the moon’s in the right phase, suggests that $100,000 could hold up as support, thanks to the market value realized value (MVRV) bands from Glassnode. But, honestly, when has anything in crypto ever been this simple?
Liquidations Awaiting Below $100K!
Traders, as always, are getting a bit too cozy eyeing the potential downside liquidity grab. Orders are building up beneath the spot price, and the buzz is particularly thick below the sacred $100,000 level.
“$100K is a strong psychological level and liquidity tends to stack in these levels,” said CrypNuevo in a tweet that went viral for its accuracy. It’s like everyone and their dog is waiting for Bitcoin to make its next move.
Latest data from CoinGlass shows Bitcoin munching its way through bids around $105,000, with the majority of the action hovering between $100,000 and the spot price.
Meanwhile, high bid orders are stacking up just below $100,000, with $170 million of liquidity sitting pretty around $93,200. That’s a lot of people placing bets on the edge of their seats.
On the upside, though, the $112,500-$113,500 range looks like the party zone for liquidity. But don’t get too comfy, because things are getting unpredictable.
“There is significant liquidity in both directions, with a more concentrated build-up below the lows of the last few days,” said AlphaBTC, ever the wise observer.
“I wouldn’t be surprised if $BTC ran the lows and then rallied back up to take what’s left above.”
Read More
- Silver Rate Forecast
- SPEC PREDICTION. SPEC cryptocurrency
- ETHFI PREDICTION. ETHFI cryptocurrency
- USD PHP PREDICTION
- OM PREDICTION. OM cryptocurrency
- How Stabull Solves The Stablecoin Chaos (With a Wink and a Nudge) 💰✨
- INR RUB PREDICTION
- BXN PREDICTION. BXN cryptocurrency
- CAT PREDICTION. CAT cryptocurrency
- RUNE PREDICTION. RUNE cryptocurrency
2025-06-03 14:18