Bitcoin Analyst Says $102K Support Holds Key to Avoid Liquidity Crash

Bitcoin ($BTC) has reached a new all-time high, continuing its upward momentum. Currently, it is trading at $104,797, after peaking at $106,648. This marks a significant milestone in the cryptocurrency’s journey. Michaël van de Poppe, a popular crypto trader, shared this analysis on his X account.

#Bitcoin made a new all-time high and grinds upwards.

Be aware, the amount of leveraged long positions is again relatively high.

If it loses $102K –> another liquidity crash happens.

If it stays above –> $110K next.

Good times are ahead. pic.twitter.com/WFuI0exB1s

— Michaël van de Poppe (@CryptoMichNL) December 16, 2024

Experts Warn of Risk as Bitcoin Faces Liquidity Crash Threat Below $102K

But there are signals from the experts. He has noted that leveraged longs are again quite high. This may be an indication of a possible risk for the market.

When the price drops below $102K, there is a real possibility of a liquidity crash occurring. This would lead to drastic reduction in many investors as highlighted below. On the other hand, if Bitcoin sustains itself above this level then it will most probably move towards $110K next.

There is still a lot of hope for Bitcoin among the experts. Based on the current trend, it can be forecasted that the future of the cryptocurrency is bright. Most people expect it to carry on climbing and post increased results.

Bitcoin Next Moves Could Determine Future Gains or Correction

Base on the volatility of the prices, Bitcoin has been performing well. Investors are keen to know if the trend will persist. The next couple of weeks should provide the answer to whether Bitcoin will stay put or if the market is due for adjustments.

Lastly, the Bitcoin is at a crossroads and has to find out its way on how to evolve. Its subsequent steps will decide whether it can sustain the record high and go up further. Make sure to watch out for the market movement and $102K support level. Only time will reveal whether Bitcoin can soar even higher or whether it has a correction in its future.

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