There is no such signal for the direction of the market currently since Bitcoin is fluctuating between $104,848 and $105,891.
We are seeing a trend towards higher liquidity for Bitcoin, similar to the price rises that we have witnessed previously.
When the price exceeds $106,000-$110,000, it can create strong trends in this market.
Bitcoin is still locked in its narrow range, just at about $105,357 according to recent figures, with an echo of this relative calm being reflected in the broader crypto landscape. This comes as rising indications from technicals and liquidity metrics that a shifting macro environment is afoot, potentially rewrites expectations for the remainder of the cycle. While near-term price action remains subdued, longer-term metrics suggest this could be the quiet before a more robust trend.
https://twitter.com/decodejar/status/1931582659563831517
Market Structure Suggests Consolidation
Support for Bitcoin in the short term is at $104,848 and resistance at $105,891. The asset has been range-bound at the two levels over the last 24 hours, posting a flat 0.4% rise. Experts see this period of consolidation as natural for a mature bull run, especially after breaking above key resistance at $69,000 in the first half of the year. Such movement—marked by low volatility and narrow trading bands—has in the past preceded broader market swings, usually spurred by external or macroeconomic drivers.
Liquidity Trends Echo 2021 Patterns
Recent liquidity data shows a striking resemblance to the 2021–2022 cycle. A chart from DecodeJar highlights a macro oscillation where global liquidity and crypto market cap trends are converging again. The oscillator, which flipped negative after 2022, has been gradually recovering, pointing toward a potentially similar expansion phase now entering its early stages. This aligns with historical market behavior where liquidity-driven cycles heavily influenced Bitcoin’s trajectory.
Market Structure Shifts as Liquidation Pressure Builds
Although some have drawn parallels to the 2021 double top formation, the current setup presents key differences. The market structure, now forming on higher liquidity and broader macro support, appears less fragile than the previous cycle. Current indicators are showing that the 2025–2026 time frame might see slower but continuous improvements, instead of strong and sudden highs and lows.
Although the market seems calm, analysts believe that rising selling pressure close to $106K to $110K could lead to a strong price movement if it is broken. With both short and long liquidations positioned closely, any breakout could trigger rapid moves, echoing past liquidity-driven surges.
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