The recent price correction of Bitcoin has raised concerns among investors, but the current situation appears to be more manageable compared to previous volatile periods.
Current Market Situation
Bitcoin's price has dropped from around $110,000 to approximately $103,000 as of publication. Liquidations on major exchanges like Binance have remained surprisingly low, with no long position being liquidated for more than $200 million.
Technical Analysis and Support Levels
Bitcoin is currently trading near its 100-day moving average after falling below the 50-day EMA. If it continues to decline, the next significant support level will be the 200-day EMA at $98,000. There is also a notable liquidity gap between $105,000 and $103,000, indicating sellers' active engagement in this area.
Conclusion and Market Prospects
The absence of significant liquidation events indicates that investors are less willing to take on risk and that leverage is not yet at dangerously high levels. Unless a significant catalyst occurs, Bitcoin is likely to continue consolidating within the range of $98,000 to $105,000.
The current situation suggests that the Bitcoin market is absorbing recent changes without panic. The future price behavior will depend on further economic factors and demand levels.
