Bitcoin$BTC news highlights:
---
📰 Bitcoin$BTC Plunges Below $103K, $450M in Liquidations
Bitcoin$BTC dropped sharply from above $106,000 to under $103K during U.S. trading, triggering roughly $450 million in liquidations—mostly long positions—as bulls and bears locked in a volatile “stalemate” .
🌐 Crypto Market Widespread Sell-Off
The broader crypto market dipped ~2.3% over the past 24 hours, with Bitcoin falling 0.1% to trade around $104,705. Despite the dip, analysts say BTC remains resilient above $104K–105K, “sitting on vast, untapped liquidity” .
📈 Technical Setup Shows Bullish Potential
Chart watchers note the formation of a bullish symmetrical triangle on Bitcoin’s daily chart, a classic breakout pattern suggesting upcoming upside—despite today's volatility .
🔍 On‑Chain Inactivity, Whale Accumulation
Glassnode reports low on‑chain activity, describing the network as a “ghost town,” while whales increasingly dominate by moving larger volumes off-exchange .
💡 Market Refocus: MACRO & Regulatory Context
TradingView attributes today’s decline to market consolidation and macro factors like energy prices. Meanwhile, U.S. regulators just enacted the GENIUS Act on stablecoins—which may serve as a catalyst for broader crypto sentiment .
---
🧭 What This Means for Traders & Investors
Signal Type Insight
🛡️ Support Zone $103K–$105K acts as a strong cushion.
📈 Resistance $106K–$108K remains the initial upside hurdle.
⚠️ Risks Today’s plunge underscores ongoing short-term friction despite long-term strength.
🌀 Pattern Play Bullish triangle formation could precede a breakout.
🐋 Whale Action On‑chain accumulation at whale level suggests cautious positioning ahead.
---
🔮 Demand Watch: – If Bitcoin holds above the $103K–105K range, it sets up a favorable base for a breakout toward $110K+
– Breaking below key support could lead to deeper retracements—tied to broader market risk-off moves.
