Bitcoin traders are closely eyeing the $100K–$110K range as both long and short positions intensify, signaling increased volatility and breakout potential.
Key levels at $100K and $110K are being closely monitored as decisive moves could dictate the market's next direction.
Traders are currently divided between bullish and bearish sentiments, with CryptoQuant highlighting the significance of behavior patterns in triggering short and long squeezes.
While long positions have a slight edge, the overall long-to-short ratio indicates market uncertainty.
Funding rates suggest a cautious sentiment among traders, although a recent uptick in short positions implies a belief that the rally may lose steam.
As short positions increase in response to price dips, the $100K–$110K range is identified as a volatile zone.
Despite the current short-leaning market, there is a possibility of an unexpected upside move, indicating potential accumulation by smart money amid retail focus on downside risks.