Bitcoin Dips on Profit-Taking and Long Liquidations After Failing to Reclaim $107K, Eyes $100K Support

Bitcoin faced renewed downside pressure as profit-taking intensified and leveraged positions were liquidated after failing to reclaim the $107,000 level, according to Vincent Liu, Chief Investment Officer at Kronos Research, as reported by The Block. The assessment highlights that this phase of selling has cooled the near-term momentum and underscored the persistence of technical weakness in the market.

The brief rebound was linked to a temporary uplift in risk appetite following news that the U.S. Senate advanced a funding bill to avert a government shutdown, but Liu noted that the move quickly relinquished gains as macro tailwinds faded and leverage liquidation pressures reasserted themselves, keeping sentiment fragile.

Looking ahead, Liu flags the $100,000 threshold as a key psychological support level. A sustained breach could trigger additional selling and heightened crypto volatility, potentially extending the drawdown and testing risk controls across crypto portfolios.