FameEX Hot Topics | Bitcoin Traders Eye Key $98,000 Level

Bitcoin’s price continues to falter after Wednesday’s slide to $100,700. Data forecasts a potential drop about $98,000 as key supports fail to spark significant buying from bulls. Futures traders have faced widespread long-position liquidations, exacerbating downward pressure. Over the past 30 days, long-term holders have offloaded more than 815,000 BTC, thinning liquidity and directing attention to lower price zones. Analysts now view the June 2025 lows around $98,000 as the next probable target if volatility intensifies.

Liquidity maps reveal a growing imbalance, with robust support thinning below current levels while resistance looms overhead. Trader Daan Crypto highlighted a substantial liquidity cluster between $98,000 and $100,000, just beneath recent local lows. On the upside, $108,000 and $112,000 emerge as critical resistance levels, Given the prevailing market structure. A decisive break in either direction could trigger a sharp price liquidation.

Echoing this outlook, futures trader Byzantine General observed that Bitcoin’s current behavior strongly suggests a sweep of lows near $98,000. CoinGlass data reinforces the bearish case, showing nearly $1.3 billion in cumulative long leveraged liquidity stacked at that level—a notable increase from earlier in the week. Prior to last Friday’s drop below $100,000, traders had targeted upside liquidity around $110,000, indicating a swift shift in market sentiment and positioning.

Bitcoin has now retested the $100,000–$102,000 support band four times since its establishment in May 2025. Repeated tests of the same range often signal structural fatigue: buyer resolve weakens, bid liquidity erodes, and breakdown risk rises. Analyst UBCrypto described the recent price action as a failed breakout, advising caution and stating the level is “not worth buying into” until confirmed strength emerges—even if re-entry occurs a few percentage points higher. The combination of liquidations, holder selling, and technical exhaustion keeps $98,000 firmly in focus.

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