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CryptoIntelligence 2024-12-30 03:28:47

Bitcoin Holds Near $95K Amid Liquidity “Games” as Weekly Close Approaches

Bitcoin Holds Near $95K Amid Liquidity “Games” as Weekly Close Approaches

Bitcoin (BTC) traded near $95,000 on Dec. 29, with order book liquidity “games” shaping market movements as the weekly close approached. BTC Price Faces Key Resistance at $97,300 Data from Cointelegraph Markets Pro and TradingView showed Bitcoin stuck in a tight range over the weekend after experiencing volatility during the final Wall Street trading session of the week. With BTC/USD providing little bullish momentum, order book analysis left market observers cautious. Material Indicators highlighted red flags on its trading tools, stating: “FireCharts shows a new $86M bid ladder is pushing BTC price up from the lows, but a new (red) signal from the Trend Precognition A1 algo on the D chart… indicates that price isn’t likely to climb higher than yesterday’s high, at least not before today’s D candle close.” It added, “A push above $97.3k would invalidate the new signal.” Meanwhile, trader Skew noted shifting buy liquidity on Binance’s BTC/USDT pair, potentially signaling upside if the bids remain. “I have been watching these limit bids throughout today, which have conveniently just moved higher towards price,” Skew commented, adding, “Often a signal for what’s to come as large market entities attempt to influence/control price.” Q4 Performance Holds Strong for Bitcoin Bitcoin remained down just 1.25% for December at $95,000 but retained a Q4 upside of over 50%, nearly matching its performance in 2023, according to CoinGlass data. Despite predictions of potential new lows before a sustained bull run, experienced traders remained optimistic. Trader Titan of Crypto shared a chart projecting Bitcoin’s “roadmap” for 2025. The Wyckoff analysis suggests macro highs are still ahead before a distribution phase begins.

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