$BTC

From a liquidation standpoint, the risk of a long position "squeeze" is also high, with more than 3.4 billion dollars in leveraged long positions at risk of liquidation if prices fall to 100,000 dollars. This range could act as a magnet for the price, leading to a re-test near the psychological level. Regarding the stagnation of BTC’s bullish momentum, the data analysis platform Alphractal pointed out that the re-test of BTC near the resistance levels of 106,000 dollars increased the likelihood of profit-taking risks. As illustrated in the chart, Bitcoin is currently approaching the "Alpha Price" zone, where long-term holders or whales could take profits, according to Joao Wedson, CEO of Alphractal. Bitcoin exhibits a bearish breakout from an ascending channel, with the risk of profit-taking near 106,000 dollars.

A U.S. Consumer Price Index (CPI) lower than expected could boost Bitcoin, but a higher CPI may increase downward pressure, leading to a price drop below 100,000 dollars. The price of Bitcoin

BTC91,440 € reached an intraday high of 105,800 dollars on May 12, but recorded a 3% drop to 101,400 dollars during the New York trading session. In the low time frame (LTF) chart, BTC oscillated within an ascending channel pattern before showing a bearish breakout below the lower range of the pattern.