Bitcoin’s Wild Ride: Can It Really Liquidate $15B in Shorts? 🤔💸

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Key points:

  • Bitcoin is trying to pull off a “successful” support retest, like a toddler learning to walk, just before the weekly candle close. 🍼

  • Expect some serious BTC price drama, as liquidity analysis suggests we might see a short squeeze that would make a soap opera jealous. 🎭

  • Oh, and $100,000 is still the magic number, like the golden ticket in Willy Wonka’s factory, especially if we dip again. 🍫

Bitcoin (BTC) is holding strong at $105,500 as we approach the June 8 weekly close, with traders hoping this price correction is finally over. Fingers crossed! 🤞

Bitcoin liquidation risk rises as price coils at $105,000

According to the data from CryptoMoon Markets Pro and TradingView, BTC/USD is bouncing back after a little vacation at $100,500 on June 5. Talk about a comeback! 🎉

Now that it’s almost back to its weekly open level, Bitcoin is inspiring traders to bet on a bull run like it’s the last episode of their favorite show. 📈

“On the Daily timeframe, Bitcoin is showing signs of breaking its two-week Downtrend (light blue) and turning it into support, like a good friend who always has your back,” said popular trader Rekt Capital to his X followers while sharing a chart with key levels. 📊

“Daily Closing & retesting ~$106600 (black) would be even better to enable trend continuation.”

BTC price action has already closed above its 10-day simple moving average (SMA) — something that fellow trader SuperBro said was a must to “invalidate the bear case.”

$BTC still needs to reclaim the 10 MA and H&S neckline on a closing basis to invalidate the bear case

until then, this is not the place to get aggressive with longs, the time for that was the retest of the FVG and 50 MA, when you were so sure it was all over 😂

— Super฿ro (@SuperBitcoinBro) June 7, 2025

Meanwhile, trader Cas Abbe is peering into the order book liquidity for hints on price direction. 🕵️‍♂️

He’s seeing liquidity building both above and below the spot price, predicting a magnet-style move to “grab” it. Sounds like a game of financial tug-of-war! 🤹‍♂️

“BTC liquidation cluster is now signaling an upside move,” he summarized on X.

“If BTC pumps 10% from here, $15.11 billion in shorts will get liquidated. Meanwhile, a 10% downside move will liquidate $9.58 billion in longs.”

Abbe also noted that negative funding rates are hinting at “big short positions” popping up over the weekend. Sounds like a party! 🎉

“I think a big BTC move is coming next week, possibly pushing it above $109K-$110K,” he concluded. Buckle up! 🎢

$104,400 now key weekly close level

Some traders are eyeing the potential for further support retests first. Because why not add a little suspense? 🎬

Updating his X followers on his market forecast, popular trader CrypNuevo sees $100,000 as the logical place to build long BTC positions. It’s like the ultimate psychological support, folks!

“100k is the strongest psychological support so, as explained on Sunday, it’s the area where I’m building some longs with easy invalidation below it,” he wrote, referring to his previous aim of tagging the $100,000 mark. 🎯

Rekt Capital described the support retest after May’s all-time highs on weekly timeframes as “successful.”

“Can Bitcoin successfully confirm this retest with a Weekly Close above $104400 for what would be a 4th week in a row?” he queried. Stay tuned! 📺

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2025-06-08 13:02