Key factors:
-
Bitcoin surfs alternate order-book liquidity as enormous positive aspects plateau at round $120,000.
-
Bid assist suggests a return beneath $119,000 subsequent as a part of an anticipated retest.
-
One dealer warns of a possible “pump and dump” ploy to entice late consumers at greater ranges.
Bitcoin (BTC) consolidated positive aspects on the Monday Wall Road open as analysts braced for a BTC worth correction.
BTC worth cools amid “rug pull” warning
Information from Cointelegraph Markets Professional and TradingView confirmed BTC/USD circling $121,000 because the week’s first US buying and selling session started.
New all-time highs close to $123,250 had capped a blistering rally earlier right now, with Bitcoin nonetheless up over 10% in every week.
Whereas many anticipated the market to pause for breath after such fast upside, buying and selling useful resource Materials Indicators was cautious.
“Do not get trapped!” it warned followers in its newest publish on X.
“That $BTC purchase wall at $120.5k looks like it could be there to lure in late longs earlier than a assist check.”
An accompanying chart confirmed order-book liquidity for the BTC/USDT buying and selling pair on largest international alternate Binance.
“Be careful for a rug pull if worth will get shut,” Materials Indicators added.
“The cycle high isn’t in but, however there needs to be a assist check earlier than a sustainable run by means of $130k.”
As Cointelegraph reported, order-book liquidity manipulation has performed a key position in short-term BTC worth motion in current months, with large-volume merchants shifting bids and asks round to draw worth in a sure path.
The newest knowledge from CoinGlass on the day highlighted key assist starting at $118,800, leaving the door open for a roughly 2% correction subsequent.
Whole BTC brief liquidations within the 24 hours to the time of writing had been $432 million.
“We want to concentrate on extra manipulation,” in style dealer CrypNuevo continued in his personal X evaluation on the day.
“This may be a part of a pump-and-dump weekly sample. Warning.”
Professional merchants keep “selective” at $120,000
Amid an absence of basic indicators of “FOMO,” buying and selling agency QCP Capital noticed floor for continued optimism.
Associated: BTC worth in ‘disaster mode’ at $123K: 5 issues to know in Bitcoin this week
“This might replicate a maturing market dynamic, and the identical could possibly be stated for ETH,” it wrote in its newest bulletin to Telegram channel subscribers.
“One other consideration is that merchants could also be opting to specific directional views by means of perpetuals moderately than choices, given the elevated value of optionality in fast-moving markets.”
QCP instructed that merchants might want to hedge in opposition to low-timeframe volatility “whereas sustaining a longer-term bullish outlook.”
“We preserve our structurally bullish view on BTC, underpinned by continued institutional inflows and macro tailwinds,” it concluded.
“Nevertheless, at present ranges, we choose to be selective and are holding again from chasing the rally in favour of positioning on a pullback, ought to it happen.”
📈 BULLISH: Anthony Pompliano calls Bitcoin the “Biggest Present on Wall Road” as ETFs, treasuries, retail and sovereign funds pile in at all-time highs. pic.twitter.com/RdTE3Po49r
— Cointelegraph (@Cointelegraph) July 14, 2025
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
