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Bitcoin’s been chilling near $105K lately, trying to keep its balance. After teasing $106K, the price took a small dip, leaving traders nervous.
Bulls Lose Steam
BTC shot past $100K on May 8. But since then, it hasn’t really tested that level again. Right now, it’s about 6% under its all-time high of $111,900. Many traders think a bigger drop is coming this June.
Michael van de Poppe thinks Bitcoin could dip lower before bouncing back. He spotted rejection at $106K and sees $100K as the battleground.
Charts and Predictions
CrypNuevo also noticed BTC failed to turn $106K into support. That could mean a trip down to the $100K “psychological level.” Possibly even $90K if things get messy, according to AlphaBTC.
AlphaBTC also thinks June could be sideways and slow until we get more economic data and the FOMC meeting on June 18.
FOMC = Federal Open Market Committee. They set interest rates. Markets get nervous before they talk.
What About Liquidity?
Traders are watching liquidity—basically, where people want to buy and sell. There’s a big pile of buy orders below $105K and even more under $100K. One hot spot is $93,200 with $170M ready to buy.
But there’s also juicy liquidity above at $112,500–$113,500. So BTC might dive low, grab that liquidity, and then bounce back like a ninja.
Liquidity = How easy it is to buy or sell without changing the price too much.
