According to Cointelegraph, Bitcoin order book liquidity remains a decisive force for BTC price action in lower time frames. After breaking through $108,000, there is a divergence in behavior between whales and small retail investors, who choose to increase their BTC holdings at the current price.
Bitcoin cooled off after a rise at the Wall Street opening on June 25, with $108,000 becoming a key breakout level for the bull market. Data indicates that BTC/USD returned to consolidation after a rapid rise to a ten-day high.
Market participants have differing views on future trends; small investors are taking profits while whales and other major entities are increasing their positions. Glassnode reports that 1-10 BTC wallets continue to distribute, while 10-100 BTC wallets are net accumulators.
The Kingfisher pointed out that $107,000 is the liquidation point for long positions, while Material Indicators show that all order categories, except for small retail traders, bought in during the price increase. Keith Alan observed that the price normally retraced after reaching $108,000, and if it falls below the 50-day SMA, he will look for the next buying opportunity.
