Alright, Bitcoin’s been dancing around that $105,000 level like it’s got something to prove. The big question?
Is this the calm before a storm that could wipe out $15 billion in short positions? Fifteen billion dollars on the line if Bitcoin pumps just 10% from here. But it will?
Support
Bitcoin dipped to about $100,500 on June 5, then clawed its way back near the weekly open around $105,500.
Traders are eyeing this like hawks, betting the correction phase might finally be over.
The popular analyst Rekt Capital even pointed out that Bitcoin’s daily charts are flirting with breaking a two-week downtrend and turning it into support.
On the Daily timeframe, Bitcoin is showcasing signs of breaking its two-week Downtrend (light blue) while also turning it into support earlier today
Daily Closing & retesting ~$106600 (black) would be even better to enable trend continuation$BTC #Crypto #Bitcoin pic.twitter.com/GFqiRba06Q
— Rekt Capital (@rektcapital) June 7, 2025
If BTC can close and retest around $106,600, that could be the green light for the bulls to keep charging.
Now, if you think that’s just some wishful thinking, check this out, fellow trader SuperBro insists Bitcoin’s daily close above its 10-day simple moving average is the bare minimum to invalidate the bear case.
$BTC still needs to reclaim the 10 MA and H&S neckline on a closing basis to invalidate the bear case
until then, this is not the place to get aggressive with longs, the time for that was the retest of the FVG and 50 MA, when you were so sure it was all over 😂 pic.twitter.com/TAEG3wZgOM
— Super฿ro (@SuperBitcoinBro) June 7, 2025
Without that, it’s like trying to run a meeting without coffee, just not happening.
Variants
Trader Cas Abbe, who’s been eyeballing the order books, says liquidity is piling up both above and below the current price.
$BTC liquidation cluster is now signalling an upside move.
If BTC pumps 10% from here, $15.11 billion in shorts will get liquidated.
Meanwhile a 10% downside move will liquidate $9.58 billion in longs.
One more thing to add here is that BTC funding rate went negative… pic.twitter.com/EtP76NHdOn
— Cas Abbé (@cas_abbe) June 8, 2025
That’s like a magnet, ready to snap. If Bitcoin pumps 10% from now, it could liquidate $15.11 billion in shorts.
Flip the script and a 10% drop would wipe out $9.58 billion in longs. Talk about high stakes!
Abbe also noticed negative funding rates over the weekend, meaning big short positions are stacking up, setting the stage for a potential explosive move next week, maybe pushing BTC above $109K or even $110K.
If
On the other hand, some traders, like CrypNuevo, are playing it safe, building long positions near the psychological $100,000 support level. It’s like that reliable coworker who always has your back when things get messy.
$BTC update:
$103k –> $100k ✓ 🔨
$100k –> $105k ✓ 🔨100k is the strongest psychological support so, as explained on Sunday, it's the area where I'm building some longs with easy invalidation below it.
Not discarding revisiting this level again tho. https://t.co/iWql8N6l6z pic.twitter.com/lpopZB5sCD
— CrypNuevo 🔨 (@CrypNuevo) June 7, 2025
Meanwhile, Rekt Capital wonders if Bitcoin can seal the deal with a weekly close above $104,400 for the fourth week running, a sign that the support retest after May’s all-time highs is holding strong.
Look, Bitcoin’s price action right now is a bit like that drama where everyone’s waiting for the boss to drop a hint.
Is it a breakout or a breakdown? The charts scream volatility, and the liquidity clusters suggest a big move is coming, either way, it’s gonna be one hell of a ride.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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