More than $1 billion was added in 24 hours as bitcoin and altcoins entered the middle of the market
More than $1 billion in Crypto positions were closed in the last 24 hours as Bitcoin traded heavily from over $109,000 to $109,000 to $104,700 near certain areas.
Coinglass figures show about $717.7 million in unending claims, led by $372 million in BTC and $252 million in Elerreeum (eth). In all, about 290,000 traders ‘rekt’ shaped calls up the exchange, increasing flexibility and smoothing with smaller order books.
The move follows a failed attempt by BTC to recover the $116,000-$123,000 resistance zone earlier in the week. Experts Now Flag $104,000 as the first defense and $100,000 as the next major support, while the push back above $112,000-$114,000 can stabilize the price action.
BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview
Profit not unlocking altcoins; High profile sellers hit
AltCo sleeps as capital is diverted to Bitcoin and stablecoins during a broader risk movement. One of the most important releases occurred on the hype, where an ESH-USD position worth $20 million was created between marking calls.
BNB fell twice by double digits from recent ports; XRP Slid to $2.20 as open interest went from $9 billion to $3.5 billion following the $610 million issuance event, as did the exchange-traded XRP ETF. Meme coins have been hit as hard as on-chain show data that poses a risk and a reduction in depth.
REOR also sought known degens. James Wynn suffered most of the $ KPEPE fees, including the cancellation of 9.79 million
Machi Big Brother saw a string of long eth liquiwations (one block of 206 eth, $787,000) as the price fell below $3,800. Machi Machi Draw Tracking Services
What to Watch Next: Levels, Flow, and Dynamics
In the short term, marketers focus on:
- Levels: BTC support at $104,000 then $100,000; Resistance is $112,000-$114,000 and $116,000. For ETH, support $3,800-$3,900, resistance $4,200-$4,400.
- Flow: Liquidity flow, and currency exchange, and exchange exchange, renewed inflows can ensure buying action and renewed depth.
- Based on: Turn on interest, currency, and skew. After cleaning, the position of the clean area can reduce the risk of the tail but the operations of the options mean the ROV is lifted forward.
Macro topics (Rhetoric fees, growth data, and US government election results) remain the wild card.
If BTC holds $104,000 and etfs flip back to net inzollows, a rebuild is created; Lose it, and the market haze turns into a psychological round number of $ 100,000 with broad consequences of consolidation in altcoins.
Cover image from Chatgpt, BTCusd chart from Tradingview trading
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