BTC Pressure Builds as Price Dips to $98K and Traders Stay Long-Heavy

Bitcoin slipped to $98,000 on Thursday after failing to reclaim strength above $100,700. The price now sits near $96,545, leaving BTC down about 3.5% for the week. Market data shows long-term holders have sold more than 815,000 BTC in the past month, adding pressure to thin liquidity levels. Analysts warn that the June 2025 low near $98,000 is the next major test if volatility increases.

Liquidity pressure builds as support weakens

Liquidity maps show a growing downside imbalance between support and resistance. Daan Crypto reported a “large liquidity cluster” sitting below the $98,000–$100,000 zone, which has formed a series of higher lows in recent weeks. He also highlighted upside bands at $108,000 and $112,000, though only the first appears actionable in the current structure.

Futures traders share the same view. Byzantine General said Bitcoin is “likely to sweep the lows around $98,000.” Data from CoinGlass backs this outlook, showing nearly $1.3 billion in long leveraged liquidity at that level. Earlier in the week, many traders were targeting upside liquidity near $110,000, but last Friday’s drop below $100,000 shifted sentiment.

Bitcoin has now revisited the $102,000–$100,000 support band for the fourth time since May 2025. Each retest weakens buyer confidence and increases the risk of a clean breakdown. UBCrypto noted that the latest move resembled a failed breakout and that the zone is “not worth buying” until clear strength appears, even if the rebound starts a bit higher.

Yet long traders continue to dominate positioning. Hyblock Capital reports that 68.9% of global BTC orders on Binance remain long, showing continued faith in the $100,000 floor. Still, both daily and weekly charts point to softening momentum. Analysts agree that a liquidity sweep toward $98,000 remains likely, even as order book support builds just above current levels.