The price of Bitcoin targets the support area of $100,000–$107,000. The main support for Bitcoin is at $100,000–$107,000, in line with the realized price for STH and the 200-day SMA, which is a vital defensive area for the bulls.

A stable close above $108,800 may reduce selling pressure, while losing it exposes to a deeper correction to $92,000–$93,000.

94% of traders have been liquidated in three months highlighting liquidity hunts and risks of high-leverage positions. Bitcoin's mass liquidation

According to data from Alphractal, 94% of traders were liquidated during this period. When applying a 50% liquidity threshold filter, only densely concentrated liquidity areas remain. This indicates that the price has "actively searched" for large order clusters to liquidate positions.

Ethereum has seen a similar scenario, with long and short positions significantly affected over the past thirty days$BTC $ETH