Bitcoin Retreats from Its High of $105,000 Amidst Significant Liquidation Pressure

Bitcoin retreated from its high of $105,000 amid significant liquidation pressure and reduced leveraged trading activity. New crypto listings face challenging market conditions

Bitcoin price retreated from its high of $105,000 as it encountered significant liquidation pressure and reduced leveraged trading activity. The cryptocurrency faced substantial resistance at the $100,000 level, leading to a decline to $96,000.

As Bitcoin struggled to maintain its gains, new crypto listings faced challenging market conditions. The Estimated Leverage Ratio dropped across all exchanges, indicating that traders were adopting more conservative strategies.

In other developments, the Spent Output Profit Ratio (SOPR) showed a shift in investor sentiment. While short-term holders, typically those holding for less than 100 days, exited at an average price of $9,900, indicating a potential selloff, long-term holders, on average, sold at a profit, exiting at around $60,000.

Despite the market uncertainty, retail trading volumes continued to rise, showing engagement from individual investors. However, analysts cautioned that current chart patterns closely resembled the 2021-2022 cycle, which culminated in substantial price corrections.

With macroeconomic uncertainty looming, investors were advised to remain vigilant and exit positions quickly if needed. As the market awaited clearer signals, participants were advised to adopt more conservative strategies.

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