Daily News: Bitcoin Eyes $114k Test Amid Weekend Grind
Crypto edges higher, but signs suggest more downside may be needed before a real rebound.
🪙 Crypto Market Update
Bitcoin and the broader crypto market pushed modestly higher over the weekend, despite reports of institutional selling. Still, price action remains unconvincing. Recent weekends have shown a familiar pattern: a bid appears on Sunday, only to be quickly reversed.
Traders may also be reluctant to take fresh positions ahead of a heavy macro calendar next week, with multiple key data releases due.
Possible Retest Lower
Some short-term setups suggest Bitcoin may need to make one more dip before a stronger move higher. A flush below Friday’s low — toward the $107k zone — would align with liquidation clusters identified by derivatives data. Such a move could also shake out excessive long positioning among retail traders, where optimism remains high.
If BTC does sweep those levels and rebound quickly, a test of $112k would be the first upside checkpoint. Breaking above $114k could then open the way to $117k, but failure at that level risks another slide toward $104k.
Sentiment and Positioning
Positioning data shows retail longs remain elevated on several exchanges, suggesting peak fear and forced selling may not have happened yet. At the same time, sentiment among traders has grown more cautious, with increasing debate over whether Bitcoin is undergoing a re-distribution phase (healthy consolidation) or entering a deeper distribution (cycle top).
If it’s the former, downside should be limited and the medium-term trend intact. The coming week will likely provide clarity.
📌 Key Takeaways
Bitcoin grinding higher, but weekend rallies remain fragile
A dip toward $107k may be needed before a stronger recovery
Critical resistance levels: $112k, then $114k → $117k
Failure at $114k could drag BTC back toward $104k
Retail positioning still long-heavy, sentiment reset may be required