Bitcoin Crisscrosses $100k As BTC Price ‘bottoming Phase’ Begins

Bitcoin sought a higher low while risking a breakdown of $100,000 support, as analysis said a BTC price rebound could come without much fuel.

Bitcoin liquidity games continue as pressure mounts on $100,000 support.

Signs of price forming a higher low combine with RSI strength slowly increasing.

A Bitcoin “bottoming phase” is now in progress, new research says.

Bitcoin (BTC) threatened $100,000 support again Friday as bulls hoped for a higher low.

Data from Cointelegraph Markets Pro and TradingView showed BTC price action retreating to near $99,000 around the Wall Street open.

After failing to secure a major relief bounce from multimonth lows, BTC/USD continued to put pressure on bulls and late long positions.

Data from monitoring resource CoinGlass put 24-hour crypto long liquidations at over $700 million at time of writing.

Liquidity continued to form above and below the price, with large-volume traders potentially attempting to influence short-term movements.

“FireCharts shows $57M in $BTC bid liquidity showing up as plunge protection at $99k,” trading resource Material Indicators wrote on X, alongside data from one of its proprietary trading tools.

Source: CoinTelegraph