Bitcoin Price Prediction After $827M Liquidation: Can BTC Reclaim $104K?
BTC Price Update: Bitcoin dropped 1.5% in the last 24 hours, falling to $103,570 amid significant market turbulence.
Massive $827M Liquidation Hits BTC Bulls
Bitcoin (BTC) faced a sharp pullback as over $827 million in long positions were liquidated, intensifying downward pressure. This sell-off, mostly from leveraged traders, served as a harsh reminder of the risks in the highly volatile crypto market. These forced liquidations triggered a cascade effect, accelerating the price drop and pushing BTC to multi-week lows.
ETF Outflows and Macroeconomic Pressures Weigh Heavily
On top of crypto-specific issues, macroeconomic tensions are shaking investor confidence. Weak U.S. GDP data and ongoing trade disputes have reignited risk-off sentiment, hurting high-risk assets like Bitcoin.
On May 30, BlackRock's iShares Bitcoin Trust (IBIT) saw a record $430.8 million in outflows, ending a 31-day streak of net inflows. All 11 U.S. spot Bitcoin ETFs saw a total of $616.1 million in outflows, signaling growing institutional caution.
Bitcoin Technical Analysis: Can BTC Bounce Back?
Technically, the Bitcoin chart shows bearish signals. BTC has broken below an ascending trendline on the 4-hour chart, forming a descending triangle—a classic bearish pattern. The 50-period EMA now acts as resistance around $106,932, while the MACD indicator shows a bearish crossover with red histogram bars.
- Key Support: $102,141. A break below this level could lead to further declines toward $100,799 and possibly $99,356.
- Resistance Zone: $106,409. A bullish reversal is possible if strong candlestick patterns like a “Morning Star” or “Bullish Engulfing” form, combined with MACD turning green and price closing above the 50 EMA.
For now, Bitcoin’s short-term outlook remains bearish unless a strong buying reaction occurs near the support zone.
SUBBD ICO Surpasses $570K, Redefining Content Creation on Web3
Amid crypto volatility, the Web3 project SUBBD continues to shine. With over $571,500 raised in its ongoing token sale, the platform aims to revolutionize the content creation landscape by connecting creators and fans directly—without intermediaries.
SUBBD has already attracted more than 2,000 creators and 250 million followers, offering tools powered by AI, exclusive creator rewards, and decentralized governance. Token holders can stake their SUBBD tokens to unlock features like premium content access, XP rewards, random giveaways, and live-streaming access.
With the token currently priced at $0.05555 and limited availability left in this round, now may be a strategic time for investors looking to support the future of decentralized content creation.