✊🏻If Bitcoin dips below $100,000, the $96,000 level could likely act as a floor, attracting buyers and limiting downside. Historically, Bitcoin has not lingered below the short-term realized price for long during bullish cycles, reflecting firm holder conviction and market demand.✊🏻

👉🏻 Crypto trader Altcoin #altcoins Sherpa suggested that the current market conditions are primed for a price recovery in the coming days. Highlighting a key support zone between $102,000 and $104,500, where BTC previously consolidated before breaking higher, the trader anticipates a bounce that could push Bitcoin above $107,000 within the next week.

👉🏻 Likewise, technical analyst Titan of Crypto noted that BTC is approaching a key technical support level. The trader said,

“BTC pulling back toward the daily Kijun ~$102,700. This area previously held and could act as a solid base for the next move.”

👉🏻👉🏻 $3.7 billion Bitcoin $BTC open interest wipeout resets the market

Bitcoin’s futures open interest (OI) experienced a $3.7 billion wipeout as BTC price fell to $104,500 from $108,000. This can be considered a healthy market reset, as it reflects the liquidation of overleveraged positions, reducing

👉🏻 High OI often indicates over-leveraged trading, which can amplify volatility. When a slight price drop triggers a significant number of liquidations, as illustrated above, it clears out speculative positions, stabilizing the market.

Related: How low can the Bitcoin price go? $BNB

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