Key points:
- Bitcoin is encountering a massive cluster of sell orders just above $105,000, keeping prices capped below that level.
- At the same time, traders point to strong buy-side interest around $100,000, warning that another dip could test that support zone.
- Meanwhile, U.S. trade tariffs face scrutiny in the Supreme Court, a development with potentially broad implications for equity markets.
Bitcoin kept traders on edge Thursday, with sellers poised to defend the $105,000 level.
BTC Price Faces New Liquidity Games
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin’s rebound losing momentum after the daily open.
Throughout Wednesday’s Wall Street session, bulls struggled to regain control as exchange order-book data revealed a dense cluster of sell orders just above $105,000.
“Price has clearly been capped by the cluster of asks above $105K,” trader Skew noted, calling the setup “not surprising.”
He also warned that sell-side pressure appeared to be building as Bitcoin attempted to recover. “This tactic is often used to push prices lower during Asia trading hours,” Skew added, referring to the heavy sell wall near $105,000.
Trading resource Material Indicators added to the debate, noting it was “interesting” that the heavy ask liquidity hadn’t already triggered a broader market flush.
The firm suggested the entity behind those orders “could be attempting to suppress price toward the $98,000–$93,000 range.”
“If Bitcoin reaches $105,000, I’d expect some or all of those sell orders to be pulled,” the team predicted in a post on X (formerly Twitter).
“Before you panic sell, remember we have a bounce from the 50 Week SMA which, if it holds, has macro bullish implications.”
Commentator Exitpump called the ask wall “insane” and likewise implied that the liquidity may not be genuine.
Tariff Buzz Puts Traders on Alert
Longtime Bitcoin investor Kyle Chasse cautioned that a fresh BTC price dip could be on the horizon, pointing to growing bid liquidity building below current levels.
“Confidence could get wiped in a heartbeat,” he warned on X (formerly Twitter), sharing supporting data from analytics platform CoinGlass.
With US stocks cooling their ascent to new all-time highs, the potential for the Supreme Court to strike down blanket international trade tariffs was of key importance.
