Bitcoin rebounded on Friday afternoon after setting an early intraday low below $104,000.
Notable Statistics:
- Coinglass data shows 255,556 traders were liquidated in the past 24 hours for $985.30 million.
- In the past 24 hours, top losers include Aave (CRYPTO: AAVE), Aster (CRYPTO: ASTER) and Monero (CRYPTO: XMR).
Notable Developments:
- Is Bitcoin At $106,000 ‘Cheap’? Here’s How You Can Tell
- Peter Schiff Says Bitcoin, Ethereum Crash Is ‘Imminent’—But How Much Worse Can It Get?
- Ripple Labs Is Leading A $1 Billion Fundraise To Establish XRP-Centered Treasury: Report
- Bitfarms Stock Falls As Convertible Notes Swell To $500 Million
- Anthony Scaramucci Was ‘Willing’ To Risk His Business For Bitcoin During The 2022 Crypto Winter
Trader Notes: MuroCrypto noted Bitcoin closing above $108,500 would signal a bullish setup, while staying below keeps the outlook bearish.
Current conditions, however, suggest that the bullish scenario remains possible.
Rekt Capital observed that Bitcoin has been oscillating within its macro range this month. The market experienced a fake breakout above the range high, followed by a fake breakdown below the range low, reflecting ongoing indecision.
Castillo Trading highlighted that Bitcoin's weekly chart remains fairly bullish, adding that it would be surprising if the current move marks a market top.
Crypto Tony suggested a long position could be considered if the $107,800 resistance zone flips into support but cautioned that it could also be a bearish retest, emphasizing the need for patience.
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