Bitcoin Dips to $108.9K as Liquidation Risk Spurs Spot Buying
Bitcoin fell to a two-week low of $108,865 amid Asian trading pressure and intensified liquidation risk. Hyblock’s heatmap shows leveraged long positions clustered between $111,000 and $107,000, signaling potential downside to $107,000. Institutional cohorts in perpetual futures (1,000–10 M USDT) led heavy selling that outweighed retail spot buying (100–1,000 USDT). However, spot buyers increased allocations as prices dipped, pushing the 10% depth bid-ask ratio back above zero. Anchored 4-hour cumulative volume delta data recorded a spike in net buy volume. This buyer tilt was last seen on September 5–7, before the rally from $107,500 to $118,200. Traders should monitor liquidation heatmaps and order book depth for further downside risk or a potential recovery.
Bearish
Institutional selling in perpetual futures and clustered leveraged longs heighten liquidation risk and suggest potential drop toward $107,000. While spot buyers are active at sub-$110K levels, the market faces near-term downward pressure. Bitcoin’s bid-ask tilt and CVD surge offer some support but may not offset the liquidation-driven sell-off. Thus, the price outlook remains bearish in the short term, though a rebound could follow if support holds.