Bitcoin Plunges Below $100K: Liquidity Squeeze Pushes Price Towards Support

Bitcoin (BTC) has experienced significant downward pressure following a drop below $100,700 on Wednesday, leading to a 3.5% weekly decline. Market data indicates increased selling activity from long-term holders, contributing to the concentration of bearish pressure near the $98,000 level. Analysts anticipate further losses if volatility accelerates, with key support levels around $98,000 acting as a potential target. 30-day sales exceeding 815,000 BTC highlight the intensified liquidity pressure and the possibility of a significant downside movement.