• The market has witnessed intense liquidation activity, with the highest concentration occurring between $101,500 and $99,800.
  
• Bitcoin’s current distribution of holders provides insights into potential market trends.

Bitcoin’s [BTC] recent price fluctuations have captured the attention of traders as volatility intensifies, leading to a surge in liquidations.

As market participants navigate these rapid price changes, several critical factors shape Bitcoin’s trajectory.

Bitcoin’s price performance and key levels

AMBCrypto’s look at BTC’s price showed a recent downtrend followed by a small recovery. The price has dropped significantly, but was attempting a bounce from the $99,000 level, trading at $100,273 at press time.

Also, the RSI was at 44.02, indicating neutral momentum but approaching oversold levels.

The MACD histogram, on the other hand, was turning less negative, suggesting a potential bullish crossover, but the signal line remained below the zero line, meaning that the downtrend had not fully reversed yet.

Volume has spiked during the sell-off but remains relatively lower on the bounce. Overall, while there’s a slight recovery, the trend is still bearish

Trader sentiment and market reactions

The market has witnessed intense liquidation activity, with the highest concentration occurring between $101,500 and $99,800.

This zone represents the maximum pain point, where both long and short positions have been liquidated at an accelerated rate.