EU, US negotiations on tariffs appear deadlocked. This news drove the US equities lower and prompted a pullback in the crypto market, though BTC has held up relatively well.
The softening of Trump’s trade policies could potentially trigger a stable rebound in US stocks, which in turn may have an indirect impact on the future price movements of BTC.
Meanwhile, BTC long position liquidation price is $92,043 with $923 million at risk, while the short position liquidation price is $94,101 with $325 million at risk.
Key resistance zone lies between $92,000 and $96,000, which is the previous high-volume accumulation area.
Powell's early departure could undermine the Federal Reserve's independence, potentially causing further declines in the USD, US stocks, and US bonds.
The liquidation risk for long positions is relatively controllable, and $84,000 can be observed as a short-term support level.
BTC trader's risk for short positions is relatively controllable, and $83,000 can be observed as a short-term support level.
EU, US negotiations on tariffs appear deadlocked. This news drove the US equities lower and prompted a pullback in the crypto market, though BTC has held up relatively well.
Short strategies still dominate the overall layout, but the return rate continues to decline, and the market has entered a clear consolidation and wait-and-see phase.
The first target would be 88,000, while the key resistance level above is at 92,000, according to WOO X Research.
We anticipate that BTC will carve out a bottoming range amid a sustained US stock rebound
The liquidation intensity on the long side is high, posing a risk of cascading liquidations.
The market is now focused on finding the bottom level before a potential rebound or stabilization. The current market’s bull/bear sentiment score is 55 (cautiously bearish).
The focus is now on whether BTC can break through the $82,000 price point. The market's bull/bear sentiment score is 50 (cautiously bearish).
BTC remains cautiously bearish at the moment, with strong support at around $74,000.
Long positions are in a more dangerous zone and have a larger liquidation amount, making this a key price level.