Bitcoin price stalls below $100,000 amid $2 billion in long liquidations
Bitcoin's recent price action suggests a struggle against key resistance levels, while downside risks continue to build. Despite ongoing accumulation by large holders, price movement remains constrained, and technical indicators point to potential weakness.
During the Asian session, Bitcoin traded in a narrow range between $97,200 and $99,200, reflecting lower volatility. The 50-day EMA at $99,200 acted as a ceiling, preventing Bitcoin from testing the psychological $100,000 level. While currently in the European session, Bitcoin price is at $97,800, maintaining pressure below resistance.
BTC price dynamics (January 2025 - February 2025). Source: TradingView
If Bitcoin fails to break above this resistance, further downside movement is expected. The next key level to watch is the previous day’s low at $96,300. A break below this support could accelerate bearish momentum, increasing the probability of deeper declines.
The Relative Strength Index (RSI) on the 4-hour chart has dropped near 40, indicating growing bearish momentum. This shift suggests weakening buying pressure and increases the likelihood of further downside.
Large holders accumulate but bitcoin price outlook remains weak
Meanwhile, on-chain data highlights continued Bitcoin accumulation among large holders, signaling confidence in long-term prospects. Despite this, the broader market sentiment remains pressured, with approximately $2 billion in long liquidations driving negative funding rates. This reflects a market where buyers are positioning at lower levels, but their actions are yet to trigger a sustained breakout.
Bitcoin’s ability to reclaim $99,200 and challenge the $100,000 resistance remains the critical factor in determining the next move. Failure to do so increases the risk of testing $96,300 and potentially lower levels.
Bitcoin dip to oversold levels near $91,300 triggered a swift 12% recovery. However, the rebound stalled at the $102,700 resistance level, signaling potential distribution.
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