Critical Price Level in Bitcoin: 107 Thousand Dollars!

Bitcoin has been in the spotlight on social media with bullish expectations. However, liquidity data suggests that the price could retreat as low as $107,000. In the cryptocurrency market in recent weeks, Bitcoin has fallen by more than 3% to 111 thousand dollars. This is the first significant loss of momentum since April, with Bitcoin breaking below both the 50- and 100-day moving averages. This is an important warning for investors to be cautious.

On the other hand, there has been a significant increase in calls to 'buy the dip' on social media. According to Santiment data, the use of these phrases on Reddit, Telegram and X (Twitter) has reached a one-month high. However, experts emphasize that this is often interpreted as a reverse signal. When a large part of the market sees an opportunity to buy at the same time, the chances of prices falling further increase.

Market analysis platform Hyblock Capital said that the largest cluster of liquidity is concentrated at $107,000. This level has the potential to attract the price like a magnet due to large buy orders. There are also small liquidity zones at 109k and $111k. However, where liquidity is concentrated is not only an area of support, but also has the potential to push prices down.

In short, while the social media euphoria in Bitcoin is bullish, liquidity data suggests that the $107,000 level is critical. It is important for traders to monitor these critical levels carefully.