How Bitcoin can still bounce back, $1B in crypto liquidations later

The crypto market showed a lot of uncertainty following over $1 billion surge in liquidations stipulated.

The spike in liquidations was a

Why are the odds favoring up？

On the flip side, the liquidation of leveraged longs above $100K may have reset the board for bulls. BTCs ability to find a floor just above $100K hints at a short-term stabilization.

Bitcoin retesting golden cross

Additionally, BTC also revisited its Golden Cross level, where the 50-day Moving Average crossed the 200-day average on the BTC/DXY chart.

Signals like these used to be associated with bullish reversals, and BTC reacted well to this event in early November 2024.

If BTC fell below $100K but moved back up to this level soon, it could rally once more and try to test $106K, $111K and higher.

If the price did not stay above $99K, it could start moving lower, possibly guiding BTC down to the $97,000–$93,000 range.

As long as Bitcoin holds above $100K and reclaims $103K–$106K, a test of $111K becomes possible. Falling below $99K again would likely shift the bias back to the $97K–$93K range.