Bitcoin ‘Power of 3’ Dey Target $126K After $922M Liquidation
Bitcoin price drop reach $112,000 over weekend, e form "Power of 3" market structure: Accumulation between $115,300 and $119,500, manipulation shakeout near $112,000, and potential distribution leg to $126,000. $922 million liquidation happen for crypto futures market wey drop open interest from $88 billion to $79 billion, show say many leverage positions don dey unwind. Negative funding rates for Binance, BitMEX, and Deribit show retail people dey bearish, plus cumulative net taker volume for Binance don fall below -$1.5 billion, mean say forced long liquidation dey happen. Key technical levels for $115,300 and $116,800 must turn from resistance to support, with $120,000 acting like strong magnet. If Bitcoin price fit reclaim these levels, momentum fit quickly push reach $126,000 target, give traders better chance to enter market strategically.
Bullish
Di $922 million liquidation wey happen plus di drop for open interest from $88 billion go $79 billion na big big deleveraging, historically e be like bullish reset wey dey clear weak long positions. Negative funding rates for top exchanges dey show say retail traders plenty for short side, dis one create contrarian setup as short dey pay long. Similar big liquidations wey happen early 2025 go before strong recovery, e mean say dis reset fit fuell new bull run. Di “Power of 3” structure—accumulation, manipulation, distribution—dey clear path go $126K once resistance levels wey dey $115.3K and $116.8K change to support. Short term absorption of fair value gap wey dey around $112K dey support strength, while if e break pass $120K e go likely accelerate momentum. For long term, dis kain dynamic fit restore institutional confidence and keep upward trend, e make am bullish signal for traders.