Bitcoin Holds Above $103K After 100x Short Liquidation Shock

Bitcoin’s price action over the past 24 hours highlights an intense battle between bulls and bears, climaxing with a rapid 100x leveraged short liquidation around $103,400. Despite strong rejection near this level, Bitcoin managed to stay above $103,000, triggering a cascade of margin calls for over-leveraged short positions. The $103,400–$104,000 zone became a liquidation hotspot, with the heatmap reflecting dense trading activity.

Bears anticipated a correction due to fading momentum and aggressively shorted the rally. However, they underestimated late-stage bullish pressure, which swiftly wiped out high-risk positions, especially those with 100x leverage that couldn’t survive minor volatility.

Though the price spike caused a stir, Bitcoin still trades nearly $6,000 below its all-time high of $109,000. Market whales appear hesitant to push higher, as seen in their quick shift toward fresh short positions. This reflects concerns about weak buying volume and the sustainability of the rally.

Technically, BTC remains above key bullish exponential moving averages (50-EMA, 100-EMA, and 200-EMA). The relative strength index (RSI) is cooling from overbought territory, suggesting a healthy consolidation. If Bitcoin maintains support above $103,000 and flips $104,780 into a base, it may target $106,000 next and possibly retest the $109,000 peak.

Market sentiment remains cautiously optimistic, but whale behavior implies skepticism about the rally’s strength. Retail traders should watch for confirmation signals before expecting a full breakout. Bitcoin remains in a pivotal zone where either a surge to new highs or a pullback could quickly unfold.