Bitcoin price suffered another shock at the start of the week following a wave of liquidation worth 40.56 million bullish transactions in 24 hours, suggesting that anxiety has gripped the market in anticipation of the announcement of important data related to macroeconomic factors, so that trading of the main digital currencies in the world is currently stable in slight decline around $111,546 despite the data inflation. American, which is doing better than expected and renewing the confidence of institutions.
The strongest liquidation wave affected bullish trades by breaking the $111,000 level following the inability of Bitcoin price to breach the nearest resistance barrier of $114,000. This wave of forced liquidations led to temporary relative stability, which in turn led to a reduction in the use of financial leverage and the removal of some excessive market complications. Such liquidations – despite their pain – Traders – This can provide an environment conducive to a more stable recovery once it starts to gain momentum again.
Similarly, Coinglass data showed that Ethereum-ETH led the liquidation wave with a total of $44.4 million, followed by Bitcoin with a narrow margin of $40.5 million, confirming the dominance of the top assets in the leveraged betting markets.
Institutional and organizational support
Despite this decline, the Bitcoin price outlook has remained positive thanks to continued positive institutional and regulatory developments. The European Union’s approval of Swiss Bitcoin Relai under the European Markets in Digital Assets Act (MiCA) represents an advanced step towards the inclusion of digital assets in traditional financial systems.
With its MiCA license, Relai can begin providing regulated investment services related to Bitcoin, accept payments using it in the Single European Payments Area (SEPA), and increase EU customers’ access to trading activities, a move that is expected to greatly improve adoption of the currency by individuals and institutions across Europe.
Additionally, JPMorgan allowing its clients to borrow against their Bitcoin and Ethereum holdings represents another recognition of the reliability of these digital assets.
It should be noted that the bank will hold the digital assets deposited as collateral through an independent asset custodian, which gives investors a legal way to access liquidity in exchange for their digital assets without selling them. Analysts see this development as a positive and lasting boost to Bitcoin’s financial uses and demand from institutions.
Bitcoin price technical analysis: Price is about to break out of the symmetrical triangle pattern
Technically, Bitcoin price currently continues its movement within a symmetrical triangle, a trend that is often followed by a strong start, and the four-hour chart shows ascending trendline support at the $109,700 level and a resistance barrier at $114,100, so the price movements are confined to a narrow zone.
The 20-day EMA ($110,300) crossing its 50-day counterpart ($110,200) indicates the potential for bullish momentum, while a steady Relative Strength Index (RSI) at 60 shows improving sentiment for the year without reaching the overbought range, and trading candlestick patterns – including recent short, bullish engulfing candles – indicate growing interest for purchase.
If Bitcoin price manages to close above $114,100, the next targets will likely be concentrated in the $117,000 to $120,000 range, followed by a possible breakout to $125,000. However, if it drops below $111,000, the price could retest the $109,700 to $106,700 range as the long-term price structure appears to remain strong at these levels.
Outlook: From liquidation to recovery
Although the $40 million liquidation wave hurt some leveraged traders, fundamental factors – including clearer regulation, institutions lending with Bitcoin as collateral, and falling inflation rates – still point to a potential recovery for Bitcoin in the medium term.
If the bulls manage to push the price up to $114,000 with good trading volumes, the journey towards the $120,000-$125,000 range will remain very possible in the last quarter of the year.
Given the impact of the leverage usage reset and deepening institutional participation, the current phase of relative stability could represent a calm ahead of the expected strong start in Bitcoin price.
Bitcoin Hyper-HYPER: Is this the next evolution of Bitcoin on the Solana blockchain?
The Bitcoin Hyper network represents a new stage in the Bitcoin Blockchain technical system. While the Bitcoin blockchain remains the benchmark for security, Bitcoin Hyper adds what it has always lacked: blazing speed that rivals the performance of the Solana blockchain.
The project’s network is designed to provide the first layer 2 network dedicated to the Bitcoin blockchain powered by the Solana Virtual Machine (SVM), combining the stability of the Bitcoin blockchain with the speed of the Solana blockchain. The result: ultra-fast and inexpensive smart contracts, allowing the development of decentralized applications (dApps), and even coins, all secured according to the standards of the Bitcoin blockchain.
The smart contract for the project coin, which is currently being sold for just $0.013175 ahead of its soon-to-be-expected high, has been successfully audited by Coinsult, focusing on trust, ensuring scalability, and increasing adoption. This provided additional momentum to the coin’s supply, which has so far exceeded $24.9 million.
Finally, with the growing activity on the Bitcoin Blockchain and the demand for efficient applications allowing you to benefit from Bitcoin balances, Bitcoin Hyper appears as a link between two of the largest technical systems in the crypto sector. If the Bitcoin blockchain laid the foundation, then Bitcoin Hyper’s mission is to make it faster, more flexible, and more fun than ever.
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The article Bitcoin (Bitcoin-BTC) Price Predictions: Danger Looms As Q4 Starts After a Wave of Bullish Speculative Deal Liquidation Sends Price Through Major Support Level appeared first on Cryptonews Arabic.