Bitcoin Struggles Near $106,000 Barrier

Despite seeking to break the $106,000 mark for a third time, Bitcoin failed to cross this significant resistance, leading to substantial liquidations exceeding $600 million. This price drop resulted in a dip around $103,000 within moments. While market uncertainty stemming from inflation continues, interest in the spot market remains high. Cryptocurrency analyst Mags highlights that the $106,000 level has become both a psychological and technical barrier, explaining Bitcoin’s recent failure to break through. However, Mags maintains a positive outlook, suggesting two potential bullish paths for Bitcoin.