Bitcoin price fills CME gap, but '$240M market dump' stops a $104K rebound

💡 DMK Insight

Bitcoin’s drop to fill the futures gap at $103,160 is a critical moment for traders looking to gauge market sentiment. Whale selling pressure is a significant factor here, as it suggests that larger players are offloading their positions, which could indicate a lack of confidence in a quick recovery. This behavior often leads to increased volatility, and traders should be on high alert for further downside if selling continues. Watch for key support levels around $100,000; a breach could trigger more panic selling. On the flip side, if BTC can stabilize and show signs of accumulation, it might present a buying opportunity for those willing to take on risk. Keep an eye on the daily chart for any bullish reversal patterns or volume spikes that could signal a shift in momentum. The next few days will be crucial in determining whether this is a temporary dip or the start of a more prolonged bearish trend.