If Bitcoin holds 101 thousand dollars, an opportunity may arise.

In recent days, Bitcoin (BTC) has demonstrated significant price movements, capturing the attention of investors. Losing the 107 thousand dollars level deepened the downward trend, with Bitcoin sliding down to 98 thousand dollars. According to a CryptoQuant analyst, this decline triggered a historic liquidation wave, causing significant concern among investors.

Analyses indicate that the 101 thousand dollars level has now become a critical support point for bulls. If this level is maintained, the recent movement could be described as a "deviation" and create a buying opportunity. However, if the price fails to exceed 101 thousand dollars and close on a daily basis above it, it is noted that Bitcoin's current bullish structure could suffer a serious blow.

During the last 130 days, Bitcoin had been trading within the 107 thousand-123 thousand dollars range, finding strong support. However, breaking this level led to the liquidation of approximately 640 million dollars of long positions, marking one of the largest liquidation events in recent times. This liquidation wave resulted in the removal of over-leveraged investors from the market. However, following the decline, buyers stepped in at the 98 thousand dollars level, causing the price to rise again above 101 thousand dollars.

CryptoQuant analysts emphasize that the 101 thousand dollars level should not be viewed merely as a psychological support point. This level also corresponds to the lower band of the ascending channel that has been in place since October 2023. Therefore, price movements in this region could play a critical role in determining Bitcoin's current market structure and trend.

For investors, it is important to carefully monitor these price levels, as they may provide insights into the future of the market. Bitcoin's reaction to the 101 thousand dollars level could be decisive for both short-term trading strategies and long-term investment decisions.