BTC has been testing the $100,000 mark repeatedly, with over $700 million in long positions getting liquidated within 24 hours. On-chain data shows that large investors placed a $57 million buy order at $99,000, but this operation looks like a game of closing all positions — not necessarily wanting to execute, but aiming to influence the short-term trend.

The RSI has rebounded from oversold conditions, and the hourly chart shows signs of forming higher lows. CryptoQuant analysis suggests that we are currently in the "bottom phase," with the futures VC cumulative Delta indicating that selling pressure is declining, suggesting that the large-scale forced liquidation wave has passed.

In simple terms: bottom signals are flashing, and as long as there is some positive news, the next wave of rise may start. Currently, it is still in the accumulation phase, and NYO (New York Opening) will be crucial.