Bitcoin is pulling back after touching $104K, and traders are eyeing key levels as the asset battles to stay above six figures.
Since its surge from the $75K lows, BTC’s rise appears driven more by headline hype than strong volume — especially as markets react to political events like Trump's tariff policies and new US-UK trade agreements.
Analyst Skew warns that BTC needs “passive flows” to hold ground — strong support volume at retested levels. Without it, a break below $100K could trigger volatility and liquidations.
On the chart, BTC is now sitting near the 1.618 Fibonacci extension, a zone where many expect resistance before a potential move to new ATHs.
Data from CoinGlass shows liquidity stacking just below $100K, while upper-side resistance has thinned out, increasing the risk of a pullback.
Unless bulls step in with real volume, price might hunt for liquidity under $100K before the next big move.
