FameEX Hot Topics | Market Eyes Larger Bitcoin Correction With Sub-$100K Liquidity in Focus

Bitcoin is currently trading near $105,000, struggling to maintain upward momentum as traders closely monitor the critical $100,000 level. After being rejected from resistance around $106,000, BTC/USD is retracing in search of solid support. Despite holding above the psychological $100,000 mark for over three weeks, the lack of a convincing retest has sparked concerns about a possible larger correction. With Bitcoin trading roughly 6% below its all-time high of $111,900, market sentiment remains cautious going into June.

Technical analysts highlight the importance of the $100,000 support level, which has become a key battleground. Michael van de Poppe of MN Capital noted Bitcoin hovering around $104,300 and warned that further downside is possible before any meaningful bullish momentum returns. A four-hour chart he shared emphasized $100,000 as a crucial threshold. Fellow analyst CrypNuevo echoed this sentiment, pointing out Bitcoin’s failure to convert $106,000 into support and suggesting a potential dip to $100,000, supported by the 150-day EMA.

Some market watchers believe the correction could deepen if $100,000 fails to hold. AlphaBTC warned of a potential slide as low as $90,000, anticipating a sideways trend into mid-June as traders await macroeconomic catalysts such as the FOMC meeting on June 18. In the meantime, analysts expect Bitcoin to remain range-bound, influenced by broader market conditions and liquidity patterns. Glassnode’s MVRV bands indicate $100,000 may still serve as a robust support level in the near term.

Liquidity dynamics reinforce the idea that $100,000 is a critical inflection point. CrypNuevo noted that liquidity often clusters around major psychological levels, with many buy orders thickening just below $100,000. CoinGlass data supports this, showing significant bid interest between the current spot price and $100,000, especially around the $105,000 area, suggesting traders are preparing for potential downside wicks.

Further below, a large liquidity pool—around $170 million—is accumulating near $93,200, potentially acting as a magnet if $100,000 gives way. On the flip side, the $112,500–$113,500 range marks the nearest upper resistance. According to AlphaBTC, liquidity is heavy on both sides of the market. He anticipates a potential sweep of recent lows before a rally higher, as Bitcoin navigates this critical phase of price discovery.

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