After the Wall Street opening, the price of Bitcoin fell below $105,000. While order book data and decreasing liquidity signal signs of market manipulation, experts point out that volatility is approaching.

As weakness in BTC accelerates, the level of $104,000 is under warning for rug pull risk.

Bitcoin bulls are trying not to panic against possible sudden price movements.

The US dollar is signaling a recovery from its lowest levels in three years.

Bitcoin fell below $105,000 on June 17, reaching an intraday low of $104,401. Analysts state that a large price movement has not yet occurred.

The consecutive formation of an 11-hour red candle indicates pressure on the bulls, while order book analysis warns that the price decline could accelerate.

The trading analysis platform Material Indicators pointed out the shift of buy liquidity in the order book while prices are falling, stating, "This is a typical indicator of manipulation in the $BTC order book."

The platform also stated, "If the price falls below $105,000, the risk of a rug pull at $104,000 is high."

As previously noted by Cointelegraph, "liquidity spoofing" is a common method used by large-volume investors to manipulate price direction.

Material Indicators previously stated, "If the bulls can push the price above $108,000, the target of $110,000 will open."

Market analyst Skew remains relatively optimistic. According to Skew, Bitcoin investors are behaving more cautiously compared to previous pullbacks despite geopolitical pressures, but they emphasize that volatility is approaching.

Skew stated in a social media post, "The market is not panicking about the current approximately 3% pullback, but there is a short-term hedge tendency. Previous declines had aggressive selling and increased volatility during 5% movements. This indicates that the big move has not yet happened and is in the preparation stage."

The US dollar is signaling a reversal from the oversold zone.

While gold prices are declining, the US dollar is gaining strength. There is no panic in the markets despite tensions in the Middle East.

The trading publication called The Kobeissi Letter finds the likelihood of the Israel-Iran conflict turning into a global war low.

"While gold remains strong, the market does not seem to carry the fear of a third world war," it was assessed.

Additionally, while oil prices rise by about 2%, the 10-year US Treasury yield approaches 4.50%. Markets believe this will not pose a long-term obstacle.

The US dollar index (DXY), which generally shows an inverse correlation with Bitcoin, is recovering from multi-year lows.

Market strategist Guilherme Tavares said, "Investors are heavily short on USD. DXY had sharply risen in previous similar oversold scenarios."

Tavares stated, "The index is at a critical support level and RSI is oversold. This indicates a bullish divergence."

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