Bitcoin dominance is rising after one of the sharpest shakeouts in recent memory, triggered by over $1 billion in leveraged liquidations across the crypto market. BTC is now stabilizing around $104,957, down just 0.17% in the last 24 hours, as traders reassess their risk appetite.
According to data from Coinglass, more than 247,000 traders were liquidated in a 24-hour window. The most notable wipeout was a $200 million BTC long on Binance the largest single liquidation event of the year. Most of the damage occurred on Binance and Bybit, which together accounted for $834 million in liquidated positions.
The overwhelming majority were longs, as traders overleveraged on bullish momentum fueled by Circle’s IPO momentum and renewed interest in U.S.-based DeFi protocols.
These forced liquidations act as automatic margin calls. When traders fail to meet required collateral thresholds, exchanges close positions to protect the broader system. But in times of sharp volatility, these measures often snowball, leading to rapid price declines and widespread market capitulation.
Bitcoin Dominance Climbs as Altcoins Falter
While altcoins suffered steep losses, Bitcoin price prediction is in support above $104,000. The selloff appears to have driven investors back into BTC as a relative safe haven.
Bitcoin dominance, a metric measuring BTC’s share of total crypto market cap has risen sharply, suggesting that traders are fleeing riskier assets in favor of the original cryptocurrency.
Technically, BTC is hovering just above the 0.236 Fibonacci retracement level at $104,872 and sits on an ascending trendline that has supported price action since early June.
The MACD histogram is flattening, showing early signs of bearish momentum waning. If bulls can reclaim the 50-period EMA near $106,351 and surpass the 0.5 Fib level at $106,788, a move toward $108,864 remains in play.
This pattern suggests a possible higher low in the making, especially if the current consolidation zone holds. Small-bodied candles point to indecision and accumulation—typical behavior near the bottom of correction cycles.
Short-Term Outlook: Bitcoin Eyes $108K if Momentum Builds
Despite market turbulence, Bitcoin’s chart structure remains technically constructive. A move over the $106,350 level would indicate a short-term breakout, validating a reversal pattern and that could propel BTC toward $107,640 and $108,864.
Trade Idea Recap:
- Entry: Above $106,350 with volume
- Stop: Below $104,000
- Targets: $107,640 (initial), $108,864 (extended)
With major altcoins bleeding and risk sentiment fragile, Bitcoin’s resilience could attract sidelined capital. Unless BTC breaks below $103,169, the broader uptrend remains intact. In the current environment, Bitcoin isn’t just a crypto—it’s the crypto safe haven.
BTC Bull Token Nears $8.1M Cap as 58% APY Staking Attracts Last-Minute Buyers
With Bitcoin trading near $105K, investor focus is shifting toward altcoins, especially BTC Bull Token ($BTCBULL). The project has now raised $7,141,005.09 out of its $8,216,177 cap, leaving less than $1 million before the next token price hike. The current price of $0.00256 is expected to increase once the cap is hit.
BTC Bull Token links its value directly to Bitcoin through two core mechanisms:
- BTC Airdrops reward holders, with presale participants receiving priority.
- Supply Burns occur automatically every time BTC increases by $50,000, reducing $BTCBULL’s circulating supply.
The token also features a 58% APY staking pool holding over 1.81 billion tokens, offering:
The token also features a 61% APY staking pool holding over 1.73 billion tokens, offering:
- No lockups or fees
- Full liquidity
- Stable passive yields, even in volatile markets
This staking model appeals to both DeFi veterans and newcomers seeking hands-off income.
With just hours left and the hard cap nearly reached, momentum is building fast. BTCBULL’s blend of Bitcoin-linked value, scarcity mechanics, and flexible staking is fueling strong demand. Early buyers have a limited time to enter before the next pricing tier activates.
The post Bitcoin Price Prediction: Dominance Soars Post-$1B Liquidation – Is BTC the Only Safe Haven? appeared first on Cryptonews.
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