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Bitcoin Traders Target $100K–$110K Range as Pressure Builds

  • 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.

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