FameEX Hot Topics | Bitcoin Traders Zero In on $98,000 Threshold

Bitcoin’s price remains under pressure after Wednesday’s drop to $100,700. Market data predicts a decline about $98,000, as critical support levels fail to attract substantial buying from bullish investors. Futures traders have suffered extensive liquidations of long positions, amplifying the downward momentum. In the last 30 days, long-term holders have sold over 815,000 BTC, depleting liquidity and shifting focus to lower price areas. Analysts identify the June 2025 lows near $98,000 as the next likely destination if market volatility escalates.

Liquidity analysis reveals an increasing disparity, with support weakening below current prices while significant resistance builds above. Trader Daan Crypto pointed out a large liquidity pool between $98,000 and $100,000, situated just under recent local lows. Key upside targets include $108,000 and $112,000, Based on the existing market structure. A clear break in either direction could ignite a rapid price squeeze.

Futures trader Byzantine General shares this perspective, noting that Bitcoin’s price action strongly indicates a sweep of the $98,000 lows. CoinGlass data supports the bearish outlook, revealing nearly $1.3 billion in aggregated long leveraged liquidity concentrated at that level—an uptick from earlier this week. Before last Friday’s breach below $100,000, traders were pursuing upside liquidity near $110,000, underscoring a rapid reversal in sentiment and positioning.

Since May 2025, Bitcoin has tested the $100,000–$102,000 support zone four times. Multiple retests of the same range typically signal structural weakness: buyer confidence diminishes, resting bids thin out, and the probability of a breakdown grows. Analyst UBCrypto characterized the latest movement as a failed breakout, recommending restraint and noting the level is “not worth buying into” until strength is confirmed—even if that requires re-entering at a slightly higher price. The interplay of liquidations, holder sales, and technical fatigue keeps $98,000 as the primary focal point for traders.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.