BTC Trapped In Tight Range: Liquidity Heatmap Shows Key Price Points At $115K, 106K
Bitcoin Price Movement
- Bitcoin experienced volatility, attempting a rebound to $112,000 before retracing to $107,000. It currently trades around $111,000.
- An analyst, DaanCrypto, noted Bitcoin's price remains in a local range despite market swings.
Sideways Market and Potential Explosive Move
- The sideways action is due to buyers and sellers preventing breakout patterns, accumulating untriggered liquidation levels.
- This consolidation often precedes major price moves as liquidity builds outside the current range.
- DaanCrypto identified $106,000 as a key support level with heavy long liquidations; a drop below could trigger further selling.
- The $115,000 region holds significant short-side liquidity, potentially triggering a short squeeze if surpassed.
Future Outlook
- Despite failing to achieve expected growth in October, Bitcoin's Q4 return is at -2.84%, compared to an average of 74.77%.
- Over 60 days remain in 2025 for potential recovery, possibly influenced by Federal Reserve interest rate cuts.
- Currently, Bitcoin shows a 3.91% gain over the past week, trading at $111,424.