Bitcoin traders eye key levels to hold and reclaim into the weekly close, but the chances of a major liquidity grab are growing.

Bitcoin can liquidate $15B in shorts with 10% BTC price uptick — Data

“Send more Orange,” Strategy executive chairman Michael Saylor wrote on X, 
signaling another Bitcoin purchase from the company.

Michael Saylor teases fresh Bitcoin buy after $1B stock offering

Bitcoin prices have returned above $105,000 in the past 24 hours following a 
sharp price decline on Thursday triggered by macroeconomic pressures. Notably, 
US President Donald Trump and former political ally Elon Musk had engaged in a 
public spat which spiked the volatility in a crypto market already undergoing 
a corrective phase. Amidst some level of renewed stability in the last two 
days, popular analytics firm Glassnode has now shared an important on-chain 
analysis highlighting the presently key price levels in the Bitcoin market. 
Related Reading: Can Bitcoin Price Bounce To $120,000 Or Will It Break Below 
$100,000? Bitcoin Ready For Breakout As Traders Eye $114K And $83K Levels In 
an X post on June 7, Glassnode provides an insight on potential Bitcoin price 
action using the Short-Term Holder (STH) cost basis model, derived from the 
Work of Cost (WOC) price framework. As the name implies, the STH cost basis 
represents the average purchased price of all coins belonging to short-term 
holders i.e. investors who acquired their Bitcoin within the last 155 days. 
The STH cost basis is an important market metric as it reflects the risk 
appetite of newer market participants who are typically the most reactive to 
price change. It is also a strong indicator of market sentiment with an 
ability to act as resistance or support depending on the price direction. 
According to the data by Glassnode, the current Bitcoin STH cost basis is 
estimated at $97,100. Using standard deviation bands in this WOC model, 
Glassnode has further identified the $114,800 price level as the +1STD level 
of this cost basis and a potentially heated market zone. Considering Bitcoin&#8217;s 
price, this $114,800 price zone represents the next major resistance, a break 
above which is expected to trigger a massive buying pressure and push the 
premier cryptocurrency further into uncharted price territory. Glassnode’s WOC 
model also identifies the -1STD level at $83,200 to represent a critical 
support zone in the present bullish structure. A decisive price fall below 
this level would signal market weakness and is likely to cause a cascade of 
liquidations and further price corrections. Related Reading: Crypto Analyst 
Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know Bitcoin Price 
Overview At the time of writing, Bitcoin trades at $105,745 reflecting a 1.07% 
gain in the last 24 hours. Meanwhile, the asset’s daily trading volume is down 
by 34.27% and valued at $38.66 billion. Provided Bitcoin continues to 
consolidate above the STH cost basis at $97,100, there is a valid chance for a 
market bullish push towards resistance at $114,800. However, a loss of the 
critical support at $97,100 would points to a retest at $83,200 which holds 
strong potential bearish consequences. Featured image from iStock, chart from 
Tradingview

Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout

Tether, the world’s largest stablecoin issuer, is making quiet but significant 
inroads into Latin American retail markets, with Bolivian merchants now 
pricing goods directly in USDT. This grassroots adoption underscores the 
growing role of crypto in everyday commerce. Meanwhile, analysts…

Tether at $515 billion? CEO says that’s ‘bearish,’ backs Bolivia’s USDT move

Bitcoin price has stalled at $105,000 amid increasing spot ETF outflows and as 
sentiment among investors turned to neutral. Bitcoin (BTC) was trading at 
$105,550 on Sunday, June 8, up by 5% from its lowest point last week. It 
remains…

Bitcoin price stalls as spot ETFs bleed for second week

The price of bitcoin hovered at $105,384 on June 8, 2025, with a market 
capitalization of $2.09 trillion and a 24-hour trading volume of $15.81 
billion. Throughout the session, it moved within a tight intraday range of 
$105,112 to $105,891, indicating relative short-term stability amid a broader 
consolidation. Bitcoin The 1-hour chart analysis reveals a […]