Bitcoin Attempts to Build a Floor Around $109k — Rebound Signals Emerging || Daily News
ETF access rumors, liquidation maps, and order book bids hint at recovery potential
🪙 Crypto Market
Bitcoin is holding steady near the $109k zone after Friday’s turbulence, with traders watching closely whether this area can serve as a lasting base.
Reclaiming $110k is the first step, but the real battleground sits around $112k, where multiple resistance levels and liquidation clusters converge.
With the options expiry and PCE inflation data now behind us, the market narrative has shifted. All eyes are on the U.S. Supreme Court’s pending decision regarding Fed member Lisa Cook. While such an outcome could spark short-term volatility, many see it as ultimately supportive for crypto.
📊 Has Bitcoin Set a Major Low?
Most indicators suggest a significant low may already be in, though retests of recent levels remain possible before a full rebound.
Order book support: Spot bids continue to build under $109k, suggesting strong appetite at these levels.
Liquidation skew: Heavy short liquidations sit stacked near $112k–$116k, creating fuel for a squeeze higher.
Historical pattern: Margin short positioning on Bitfinex has overtaken longs — the last time this occurred, BTC rallied from $70k to $100k+.
✅ Positive Developments
Institutional angle: Reports suggest Vanguard may soon allow crypto ETF access on its brokerage platform — a potentially huge narrative driver.
On-chain resets: Daily active address activity continues to print bullish divergences, while BTC and ETH supply in profit ratios have reset lower — historically a healthy base-building sign.
Sentiment reset: Funding and positioning data show traders heavily skewed short, raising odds of a contrarian move higher.
🟣 ETH & 🔵 SOL Watch
ETH: Holding just above the critical $4,000 zone. A failure could open $3,700–$3,600, while reclaiming $4,220 would signal the low is likely in. Supply in profit has dropped to ~87%, improving risk/reward for new entries.
SOL: Tested close to $190 before bouncing. Liquidation maps show the next magnet levels at $190 or $230. Traders may need patience, as further retests are possible before a stronger rebound toward $240.
📌 Key Takeaways
BTC stabilizing near $109k–$110k with signs of accumulation.
Short liquidations above current price provide squeeze potential.
Institutional headlines (e.g., Vanguard ETF access) could act as fresh catalysts.
ETH and SOL remain vulnerable short term but show bullish divergences on-chain.
🎯 Strategy Snapshot (levels only, not advice)
Short-term bias: Long from $115k, stop $107k, target $140k.
Medium-term bias: Above $118k weekly close strengthens bull case toward $150k.
Long-term bias: Cycle structure still projects toward $230k, invalidation only below $98k.