Copyright Benzinga
Bitcoin is trading below $107,000 level, with the drop through key support levels triggering over $1 billion in crypto liquidations. Notable Statistics: Coinglass data shows 242,348 traders were liquidated in the past 24 hours for $1.23 billion. Notable Developments: EXCLUSIVE: SEGG Media Unveils $300 Million Web3 Strategy To Tokenize Sports And Entertainment JPMorgan Tokenizes Private Equity Fund As JPM Targets Key $312 Level Mastercard In ‘Late-Stage Talks’ To Acquire Crypto Startup Zerohash: Report Bitcoin Sells Trump-Xi Deal, Fed Rate Cut: Is A Breakdown To $93,000 Next? Circle, Galaxy Are The Only Crypto IPOs In Profit As eToro Sinks 40% Since Debut Bitcoin Plummets Below $109,000 After Fed Rate Cut — Classic ‘Buy The Rumor, Sell The News’ Reaction? Tether Now Holds More US Debt Than South Korea, Germany: CEO Paolo Ardoino Says Stablecoin Issuer Will Soon Surpass Brazil With $200 Billion Target Trader Notes: IncomeSharks said Bitcoin is facing rejection and may retest its lower trend line, potentially a final flush before a stronger November though without a clear fundamental catalyst, the outlook remains cautious. Altcoin Daily noted it's typical for Bitcoin to revisit its 50-week moving average multiple times during bull market pullbacks, with the current level sitting around $103,000. Altcoin Sherpa analyzed that Bitcoin could still move either way, depending on how key support and resistance levels hold. Daan Crypto Trades added that Bitcoin continues to trade within a tight range, currently testing $107,000. Key zones to watch include $103,000 (wick low), $107,000 (local support), $111,000 (mid-range/high-volume node), and $116,000 (upper resistance). The market, he said, remains in a "ping-pong phase," with each breakout or breakdown likely to drive momentum toward the next level. Read Next: Bitcoin, Ethereum Slide Another 3%: Is US Demand Disappearing? Image: Shutterstock
