Bitcoin has tapped $105,000 on Wednesday morning, despite the Crypto Fear and Greed Index slipping deeper into the fear zone at 26.
$421.6 million in positions have been liquidated in the past 24 hours.
Spot Bitcoin ETFs recorded $523.9 million in net inflows on Tuesday, while Ethereum ETFs saw $107.2 million in net outflows.
Is Bitcoin In Trouble?
Lennaert Snyder noted that Bitcoin's rejection at $107,200 and loss of support near $104,700 triggered short setups on the retest.
He suggested that reclaiming $105,300 could signal renewed strength and open the door for a move back to $107,200, while a drop toward $101,600 could offer scalp-long opportunities or confirm further downside if that level breaks.
Crypto trader Jelle maintained that Bitcoin's retest of prior highs and the 50-week MA/EMA cluster shouldn't be seen as bearish, calling it a "bounce setup" within the ongoing bullish structure.
Ted Pillows pointed out that Ethereum has lost another key support, with the next major level sitting around $3,300, a breakdown below which could trigger a new monthly low.
Solana looks bullish short-term, according to trader robo, who highlighted a strong rebound above the $153 support zone. Further confirmation is needed, but momentum appears to be improving.
The meme coin sector reversed course after Monday's gains, dropping 1.9% to $58.2 billion in total market cap.
Crypto trader CW said Dogecoin has entered a buy zone, identifying current levels as solid support but noting three major sell walls still remain ahead.
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