According to ChainCatcher news, analysts indicate that the price movement of Bitcoin increasingly resembles the result of intentional manipulation, as BTC has reached its lowest level since August 3 under ongoing selling pressure from the U.S. Bitcoin fell below $113,000 at the opening of today's U.S. stock market, failing to hold the support level. The buy order liquidity on trading platforms is being consumed, and $112,300 has now become a level worth watching.
Renowned trader Daan Crypto Trades summarized the current liquidity situation of Bitcoin, stating that BTC has cleared a lot of liquidity for both bulls and bears during the past 6 weeks of fluctuations. Currently, the largest amount of liquidity is gathering around $120,000, and of course, the local range low of $112,000 is still valid, which typically becomes a local reversal area.
Renowned trader and analyst Rekt Capital has issued positive signals, comparing the current price movement to previous bull market pullbacks. 'The most positive aspect of the current pullback is that similar pullbacks also occurred during the same cycle moments in 2017 and 2021. In 2017 and 2021, these pullbacks preceded price increases to new all-time highs.'
