Trailing Stops and Mounting Sell Pressure Stunted Bitcoin's (BTC) Breakout Above $95,000

Bitcoin (BTC) briefly surged to seven-week highs above $95,000 following the Wall Street open on April 25 but has since retreated below $94,000

Traders are cautioning over the pace of the latest Bitcoin (BTC) rally amid mounting sell pressure that ultimately saw the world’s leading cryptocurrency briefly test seven-week highs before pulling back.

According to data from CoinGlass, a wave of leveraged shorts were liquidated as Bitcoin (BTC) ultimately failed to hold support at its yearly open of $93,500 following the Wall Street open on April 25.

After briefly surging above $95,000, the cryptocurrency pulled back to trade in a tight range around $94,000.

Buyer-seller battle shifts momentum

The brief move toward $95,000 triggered a tug-of-war between buyers and sellers, with participants warning of heightened volatility. Data from CoinGlass showed that liquidity was still being absorbed across exchange order books during the spike.

Daan Crypto Trades, a popular market commentator, highlighted that Bitcoin had reclaimed the Bull Market Support Band, a critical technical level lost earlier this year.

"A weekly close above this level would be a good look for the larger timeframe, and I'd expect new highs at some point as long as it holds above," he noted in a post on X, formerly Twitter.

However, signs of caution grew as BTC price failed to hold above $94,000. Skew, another trader, warned of the underlying fragility, noting that a passive buyer had been absorbing selling pressure — but that market dynamics could shift rapidly.

"Price would be a lot lower than it is now without the passive buyer matching this market selling. Eventually one will throw in the towel & volatility will follow through."

The cryptocurrency's recent bullish moves come despite a lack of strong catalysts for a sustained breakout toward $100,000, according to analysts.

Keith Alan, cofounder of Material Indicators, pointed to the declining volume, repeated wicks below $93,500, and a bearish signal from proprietary trading indicators.

"For me, a pump above $95K would invalidate the new signal, but I'd probably consider such a move to be a short squeeze unless we have a catalyst with some substance behind it."

QCP Capital also advised caution in a recent note to clients, highlighting that market positioning had become "crowded," increasing the risk of sharper corrections.

"Given the pace of the recent rally, we remain tactically cautious. Market participants appear to be watching closely for signs of continuation or exhaustion."

At present, macroeconomic trends and technical indicators suggest that Bitcoin may enter a consolidation phase rather than achieving a swift breakout to six figures.