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- Massive sell wall at $105K caps Bitcoin’s upside.
- Analysts suspect whales may be manipulating liquidity zones.
- Macro factors like U.S. trade tariff rulings add uncertainty.
Bitcoin hovered around $103,192 on Thursday, struggling to gain ground as a massive sell wall loomed over the $105,000 mark. After a brief rebound earlier in the day, momentum faded when traders noticed heavy resistance forming on major exchanges.
Market data from Cointelegraph Markets Pro and TradingView showed a dense cluster of sell orders just above current levels — a signal that sellers were actively defending higher prices. Trader Skew noted that the buildup was “not surprising,” warning that this kind of pressure often aims to push the price lower, particularly during Asian trading hours.
Analysts Warn of Liquidity Traps
Trading resource Material Indicators highlighted an unusual pattern — despite the large sell orders, Bitcoin had yet to experience a sharp correction. The firm speculated that the seller might be attempting to suppress price movement to accumulate at lower levels, possibly in the $98,000–$93,000 range.
Still, some analysts remained cautiously optimistic. The coin recently bounced from its 50-week simple moving average (SMA), a historically strong support level. If that level holds, it could reinforce a macro-bullish trend, even if short-term volatility continues.
Broader Market Jitters Add to Pressure
Uncertainty in traditional markets also weighed on sentiment. U.S. stocks paused their record-breaking run as traders awaited a Supreme Court ruling on international trade tariffs. If the court overturns the tariffs, risk assets — including equities and possibly Bitcoin — could see renewed momentum.
Also Read: Why Metaplanet Just Borrowed $100 Million Against Bitcoin — And Plans to Buy Even More
However, prominent investor Kyle Chasse warned that “confidence could get wiped in a heartbeat,” pointing to growing bid liquidity beneath Bitcoin’s current price.
Patience Amid the Noise
Bitcoin remains caught between heavy resistance near $105K and strong buyer interest around $100K. Until the market resolves this liquidity tug-of-war, traders may need to stay patient and watch how price reacts to key technical levels and macro headlines.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
