Bitcoin Falls To $98k As Futures Liquidations Soar: Should Bulls...

Bitcoin data forecast the drop to $98,000 as key supports failed to generate hefty buying from bulls, and futures traders saw their long positions liquidated.

Bitcoin’s (BTC) price has struggled to regain momentum following Wednesday’s drop to $100,700, leaving BTC down roughly 3.5% on the weekly candle. Market data shows long-term holders have sold more than 815,000 BTC over the past 30 days, intensifying the focus on lower liquidity pockets. Analysts now point to the June 2025 lows near $98,000 as the next likely target if volatility accelerates.

Liquidity clusters show downside pressure building near $98,000 for Bitcoin.

A fourth retest of $102,000 to $100,000 support signals a weakening structure.

Futures trader positioning remains long-heavy despite rising technical risks.

Analysts tracking BTC’s liquidity map highlight a widening imbalance between support and overhead resistance. Trader Daan Crypto noted that a “large cluster of liquidity sits below the local lows at $98,000–$100,000,” adding that this aligns with the series of marginally higher lows that have formed above the zone.

The trader also pointed to major upside levels at $108,000 and $112,000 but stressed that only the former is currently actionable given the market structure, with whichever band breaks first likely triggering a sharp squeeze.

Futures trader Byzantine General echoed the sentiment, observing that current price behavior suggests Bitcoin “is likely to sweep the lows around $98,000.”

Supporting this view, CoinGlass data shows nearly $1.3 billion in cumulative long leveraged liquidity concentrated at the $98,000 level, a steep rise from earlier in the week, while futures traders had previously aimed for upside liquidity near $110,000, following the recent flush below $100,000 last Friday.

Related: Crypto most ‘fearful’ since March as Bitcoin eyes one-year lows versus gold

Source: CoinTelegraph