The price of BTC has struggled to regain momentum after falling to $107,000 on Wednesday, resulting in a weekly decline of approximately 3.5%. Market data shows that long-term holders have sold over 815,000 BTC in the past 30 days, intensifying market concerns about low liquidity areas. Analysts currently point out that if volatility increases, the $98,000 level near the June 2025 low could become the next potential target.
Key Points:
Liquidity clusters indicate that BTC faces downward pressure around the $98,000 mark.
The fourth test of the $102,000 to $100,000 support level suggests that market structure is weakening.
Despite rising technical risks, futures traders remain heavily long.
Analysts tracking the BTC liquidity map emphasize that the imbalance between support and resistance above is widening. Trader Daan Crypto noted, "There is a large liquidity cluster below the local low of $98,000 to $100,000," adding that this aligns with a series of slightly higher low formations above that area.
The trader also pointed out that $108,000 and $112,000 are major upside targets, but he emphasized that considering the current market structure, only the former is currently actionable, and whichever range breaks first could trigger a sharp price squeeze.
Futures trader Byzantine General expressed a similar view, observing that current price action suggests BTC "is likely to touch the low around $98,000."
Supporting this view, CoinGlass data shows that nearly $1.3 billion of cumulative long leverage liquidity is concentrated at the $98,000 level, which has seen a significant increase compared to earlier this week. Previously, futures traders had targeted upside liquidity around $110,000 after BTC fell below $100,000 last Friday.
Since establishing the $102,000 to $100,000 support range in May 2025, BTC has tested this support level for the fourth time. Multiple retests of the same support level typically indicate structural weakness: each subsequent test erodes buyer confidence, reduces static buy-side liquidity, and increases the likelihood of a downward breakout.
Analyst UBCrypto noted that the latest trend resembles a failed breakout. He emphasized, "This is not a position worth buying unless the price confirms strength," even if that means needing to re-enter at a few percentage points higher.
Nevertheless, data from Hyblock Capital shows that long positions still dominate, with 68.9% of global BTC orders on the Binance platform leaning towards long, indicating that many traders still trust the $100,000 bottom.
However, both daily and weekly charts reflect a weakening trend in higher time frames, increasing the likelihood of a liquidity sweep towards $98,000, even though it seems that deeper order book support has accumulated above the current price.
Related: A survey shows that Bitcoin (BTC) has the potential to win support from U.S. voters, regardless of their political stance.
This article does not constitute any investment advice or recommendation. All investment and trading activities carry risks, and readers should conduct their own research before making decisions.
Original article: “Bitcoin (BTC) Falls to $98K as Futures Liquidations Soar: Should Bulls Expect a Bounce?”
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