Bitcoin Shows Signs of Weak Momentum Near All-Time High Amid Market Caution and Potential Short Liquidations

Key Points

1. Bitcoin is currently trading around $108,560, just below its all-time high of $111,970, reflecting a modest 2.15% change.

2. Approximately $1.63 billion in short positions could be liquidated if Bitcoin surpasses its all-time high, potentially triggering significant price movement.

3. Social media sentiment shows a notable uptick in bullish comments, with a ratio of 1.51 to 1 compared to bearish ones.

4. The market remains in a delicate equilibrium, with neither bulls nor bears dominating, awaiting clearer directional cues.

5. Bitcoin, alongside other major cryptocurrencies like Ethereum and XRP, is increasingly viewed as a hedge against traditional market volatility.