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Can Bitcoin Avoid a Drop to $104K? Heatmap Data Reveals Key Liquidity Zones
Bitcoin (BTC) and Ethereum (ETH) are fighting to reclaim lost ground following a brutal weekend correction that sent shockwaves through cryptocurrency markets. The leading digital assets are showing signs of resilience, but institutional selling pressure continues to create headwinds for sustainable recovery.
Mixed Recovery Signals Emerge from Weekend Carnage
Bitcoin price currently sits at $113,054, representing a modest 2.4% recovery from Monday’s devastating low of $108,665. Meanwhile, Ethereum has demonstrated stronger bounce-back potential, surging 8.26% to reach a daily peak of $4,663 after bottoming out at $4,310 on Monday.
The cryptocurrency markets experienced severe turbulence from Saturday through Monday, with both major assets losing significant value during the sharp selloff period.
Retail Traders Step Up While Whales Retreat
Market data reveals a fascinating tale of two investor classes responding differently to the price correction. Retail traders in the 1K to 10K cohort have been aggressively buying the dip throughout the correction period from Sunday to Wednesday, showing unwavering confidence in Bitcoin’s long-term prospects.
However, whale and institutional traders handling volumes between 1 million to 10 million have been consistent net sellers during the same timeframe. The good news is that selling intensity has notably decreased as BTC reclaimed the $111,000 zone.
Exchange Data Shows Clear Trading Patterns
Binance data confirms retail traders are opening long positions across both Bitcoin spot and perpetual futures markets during the downturn. In contrast, larger players continue offloading positions.
Coinbase retail traders have shown remarkable activity with $101.253 million in net buying volume, while institutional investors across both Coinbase and Binance remain net sellers. Perpetual futures markets have witnessed approximately $7.5 billion in institutional selling during the analyzed period.
Critical Price Levels Determine Bitcoin’s Next Move
Liquidation heatmap data from Hyblock reveals significant bid absorption in the $111,000 to $110,000 range during weekend selling, with another major cluster positioned near $104,000.
While a breakdown to the lowest liquidity zone appears unlikely, ongoing institutional selling pressure continues challenging Bitcoin’s recovery momentum.
