Bitcoin Dips to $98K, Futures Liquidations Soar: Is a Bounce on the Horizon?

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Bitcoin’s (BTC) price, ever the elusive creature, has found itself in quite a predicament. After a dramatic tumble to $100,700 on Wednesday, it has managed only a modest decline of 3.5% over the weekly candle. How utterly thrilling. Data reveals that long-term holders, in a perhaps bold or reckless move, have parted with more than 815,000 BTC in the past 30 days, adding a touch of drama to the scene as liquidity pockets tighten. Analysts, not ones to shy away from predicting the obvious, now suggest that the June 2025 lows near $98,000 may be the next target should volatility decide to make a grand entrance.

Key takeaways:

  • Liquidity clusters point to increased downside pressure near $98,000 for Bitcoin. How utterly riveting.

  • Bitcoin has tested $102,000 to $100,000 support for the fourth time. How charmingly persistent.

  • Futures traders, despite rising risks, remain long-heavy. They’re not easily deterred, it seems.

BTC Liquidity Compression Builds Pressure for a Downward Journey

Analysts, ever watchful over BTC’s liquidity map, have observed an imbalance between support and resistance. Crypto trader Daan, with an insightful eye, noted that a “large cluster of liquidity sits below the local lows at $98,000-$100,000,” aligning quite snugly with a series of marginally higher lows. One cannot help but admire the consistency. The trader also mentioned major upside levels at $108,000 and $112,000, but cautioned that only the former is currently actionable, given the prevailing market structure. Whichever band breaks first is sure to cause a delightful squeeze. Truly, the drama never ends.

Futures trader Byzantine General, not one to mince words, echoed this sentiment, observing that Bitcoin’s current price behavior indicates a likely dip toward the $98,000 lows. A thrilling prospect, I’m sure you’ll agree. In support of this, CoinGlass data reveals nearly $1.3 billion in cumulative long leveraged liquidity at the $98,000 level, a sharp increase from earlier in the week. Meanwhile, futures traders had previously placed their bets on liquidity near $110,000, but alas, the market had other plans after last Friday’s brief dip below $100,000.

Repeated Support Retests: A Sign of Diminishing Hope

Bitcoin has now tested the $102,000-$100,000 support band for the fourth time since its initial appearance in May 2025. One might say the range is getting a tad overused, like a well-worn pair of shoes. Multiple retests often signal structural exhaustion: the repeated visits weaken buyer conviction, reduce resting bid liquidity, and increase the chances of a breakdown. A recipe for disaster, or perhaps just another day in the crypto market.

UBCrypto, ever the realist, noted that the latest move resembled a failed breakout, and advised that it is “not a level worth buying into” until Bitcoin confirms some strength. Of course, this might mean re-entering a few percentage points higher. What a delightful twist. Nevertheless, Hyblock Capital’s data shows that long positioning remains dominant, with 68.9% of BTC orders on Binance leaning long. Clearly, there are those who continue to believe in the $100,000 floor. Bless their hearts.

However, both daily and weekly charts hint at a softness in higher time frames, making a liquidity sweep toward $98,000 increasingly likely, even as deeper order book support looms above the current price. Truly, this market never fails to keep us on our toes.

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2025-11-13 22:11