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Bitcoin (BTC) continues to test the $100,000 support level, with analysts suggesting that the world’s leading cryptocurrency may be entering a “bottoming phase.” On Friday, BTC traded around $101,115, briefly dipping near $99,000, as traders watched closely for signs of a higher low formation.
Data from CoinGlass revealed that over $700 million in crypto long positions were liquidated in the past 24 hours, reflecting heightened volatility in the market. Analysts at CryptoQuant noted that speculative selling pressure is fading, adding that only a “bit of good news” could trigger Bitcoin’s next rally phase.
Trading resource Material Indicators reported a surge in bid liquidity at the $99,000 mark, describing the current phase as a “liquidity herding game,” where large traders may be influencing short-term price movements. Meanwhile, RSI readings hinted at a mild recovery from oversold levels, supporting the possibility of a rebound.
Despite current uncertainty, market experts believe Bitcoin’s foundation remains strong and that this consolidation could pave the way for its next bullish cycle.
Top 5 Cryptocurrencies by Market Value
| Rank | Cryptocurrency | Symbol | Price (USD) | Market Cap (Approx.) |
| 1 | Bitcoin | BTC | $101,115 | $2.0 Trillion |
| 2 | Ethereum | ETH | $5,320 | $640 Billion |
| 3 | Binance Coin | BNB | $720 | $106 Billion |
| 4 | Solana | SOL | $230 | $105 Billion |
| 5 | XRP | XRP | $1.22 | $67 Billion |
Market watchers expect that if Bitcoin holds above the $100K threshold, confidence could return across the broader crypto market, potentially igniting a new wave of bullish momentum.
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