Bitcoin Surpasses $100,000 Mark
Bitcoin has reached a significant milestone by crossing the $100,000 mark today, currently trading near $101,000. This comes after a recent dip to $91,400 on Dec. 30 and a period of consolidation between $92,000 and $100,000 in late December and early January.
Market Movements and Liquidations
- Coinglass data reports $175 million liquidated in the last 24 hours, indicating low leverage as the market adapts to the current price range.
- Bitcoin’s climb above $100,000 follows a retreat from its recent high of $108,300 on Dec. 17, showing consistent momentum with occasional dips below six figures.
Resistance and Support Levels
According to Coinglass’s liquidation heatmap, Bitcoin broke through a resistance level at $100,000, supported by long positions around $98,000. The next significant resistance is around $104,000, where short positions may come into play.
Price Fluctuations and Market Reactions
- Bitcoin has tested the support at $98,000 multiple times in the past 12 hours before breaking through the psychological barrier at $100,000.
- Increased long positions around the $98,000 support have contributed to the recent price surge.
- If Bitcoin falls back to the $98,000 support level, liquidations could impact the price temporarily, depending on broader market reactions.
The open interest in Bitcoin markets has slightly decreased since the peak in November, indicating a gradual deleveraging of the market.
