BTC Holds Strong at $102K Despite $200M Liquidations and Double Top Signals

Bitcoin (BTCUSDT) is currently trading at $102,812.03 on Binance, down 2.20% over the past 24 hours from a 24h open of $105,120.00. The recent price decline is primarily attributed to broader profit-taking across the cryptocurrency market, as traders capitalize on recent gains amid short-term uncertainty. Technical signals, such as a potential double top pattern highlighted by analysts, have contributed to increased caution and risk management among traders, leading to elevated volatility. In the last 24 hours, $200 million in total cryptocurrency liquidations were reported, with $130 million from long positions and $70.07 million from shorts, reflecting heightened market activity and rapid position adjustments. Despite the short-term dip, Bitcoin maintains strong market dominance at around 60% of total crypto market capitalization, with trading volume rising significantly and the price remaining above key long-term support levels.