Bitcoin (BTC) has experienced a significant drop, losing the psychological $100,000 barrier. The asset is now trading near $98,873. Market analysts, such as trader Daan, note that Bitcoin’s key support levels are failing, while long-term holders intensify selling.
Data from analysis platforms like CoinGlass show a dangerous accumulation of leveraged liquidity. Nearly $1.3 billion in long positions are concentrated exactly at the $98,000 level. This level matches the lows seen in June 2025. Selling pressure is intensified by this liquidity, making it a likely target for a market sweep.
Is a liquidation cascade inevitable for Bitcoin?
The $102,000-$100,000 zone has been tested as support for the fourth time since May 2025. In technical analysis, multiple tests of the same support indicate structural exhaustion. Each visit weakens buyer conviction and increases the risk of a bearish breakdown in Bitcoin’s key support levels.
However, despite the technical risk, futures trader positioning remains predominantly bullish. Data from Hyblock Capital indicates that 68.9% of global BTC orders on Binance are long. Nonetheless, this confidence in the $100,000 floor clashes with the weakness observed on the daily and weekly charts.
The current market structure suggests a “liquidity sweep” toward $98,000 is increasingly likely. Analyst UBCrypto noted that this is not a recommended level to buy into until the price confirms strength. Therefore, investors are watching to see if the bulls can defend this critical zone or if the asset’s economy will suffer a deeper correction.
