A recent report from CryptoQuant highlights important support and resistance levels for Bitcoin within the $100K–$110K range. A decisive break beyond these thresholds could shape future trends in the cryptocurrency market.
Key Levels for Bitcoin
The analysis identifies $110K and $100K as pivotal points. A breakthrough beyond either level could significantly impact market direction.
Trader Behavior on Binance
CryptoQuant notes that short positions on Binance often trigger short squeezes, while builds in long positions might precede long squeezes. Currently, long positions hold a slight edge, but the long-to-short ratio remains relatively balanced.
Market Outlook
Recent movements in funding rates suggest a cautious sentiment among traders. The rise in short positioning indicates that many anticipate a loss of momentum in the rally, especially as negative funding rates emerge.
In conclusion, despite the tilt toward short positions, this skew raises the likelihood of a surprise upside move. Smart money may be accumulating while retail traders focus on downside risk, setting the stage for a potential squeeze-driven breakout.
