Bitcoin's Price Dance: $95K and $98K - Key Levels to Watch

Bitcoin's price trajectory has been a subject of intense scrutiny, with key liquidation levels emerging as crucial indicators for market participants. According to recent data from Coinglass, two pivotal price points have been identified: $95,000 and $98,000.

If Bitcoin's price were to dip below $95,000, it could trigger cumulative long liquidations across mainstream centralized exchanges (CEXs) totaling $146 million. Conversely, a price surge above $98,000 could result in a cumulative short liquidation strength reaching $204 million. It is essential to note that the liquidation analysis does not specify the particular contracts to be liquidated or the exact value involved. Instead, the liquidation chart illustrates the relative strength of each liquidation cluster against adjacent clusters, reflecting the potential price impact as it approaches key resistance or support levels.

A substantial "liquidation bar" on the chart indicates increased susceptibility to price volatility due to liquidity cascades when these critical points are attained. Market participants should remain vigilant and adapt their strategies accordingly to navigate potential market turbulence around these key liquidation levels.