Bitcoin weekly close must hit this $108K+ level to rescue key ‘demand area’

Bitcoin experienced volatility leading into the weekly close, with price approaching a critical reclaim level after dipping below $104,000. Analysts noted that thin order books, exacerbated by over $200 million in 24-hour liquidations, are contributing to continued volatility on lower timeframes. Trader Rekt Capital stated that Bitcoin must secure a positive weekly close above $108,381 to preserve the historical Weekly demand area, despite recent downside wicks. Meanwhile, overall crypto sentiment is slowly improving, moving out of the 'extreme fear' zone, though altcoin performance remains a significant drag, with the top 50 altcoins trading below their levels from the post-FTX crash period in 2022.

(Source：Cointelegraph)