Bitcoin dipped under $109,000 on Thursday, hitting its lowest point in two weeks. While the charts suggest further downside may be ahead, new data indicates that spot buyers are starting to accumulate, hinting at a potential shift beneath the surface.
Bitcoin’s Drop Sparks Fresh Concerns
Bitcoin (BTC) fell to $108,865, reigniting fears that the correction is far from over. The decline underscores the market’s fragility as leveraged selling continues to dominate short-term moves.
Traders have tried to buy into intra-day lows, especially in US sessions, but Asian-market selling has repeatedly erased gains. This back-and-forth shows how unstable BTC’s current footing remains.
Liquidation Risks Still Loom
A key worry is the cluster of long positions between $111,000 and $107,000, highlighted by Hyblock’s liquidation heatmap. If Bitcoin keeps sliding, those positions could trigger a cascade of forced selling.
Analysts warn that a break below $107K would not only accelerate liquidations but also deal a major blow to market sentiment, leaving bulls struggling to regain momentum.
Spot Buyers Edge Back In
Despite the pressure, data shows spot buyers are re-entering. The bid-ask ratio, which compares buy and sell orders, has tilted back toward buyers — the first such signal in weeks.
This suggests some investors view the sub-$110K zone as a buying opportunity. While not enough to offset institutional futures selling yet, it marks a shift in demand at current levels.
Echoes of September Accumulation
The last time spot demand looked this strong was in early September, just before Bitcoin rebounded from $107,500 to $118,200. Traders are watching closely to see if history will rhyme.
If accumulation builds further, it could form a base for recovery. Still, futures-driven volatility means Bitcoin’s near-term path is anything but clear.
A Market at a Crossroads
The tension is clear: leveraged traders brace for further downside, while spot buyers quietly absorb supply. Which side wins may depend on whether BTC can hold above $107K.
For now, Bitcoin remains in limbo — caught between looming liquidation risks and early signs of renewed accumulation.