Bitcoin Price Steadies Near Key Levels
Bitcoin hovered around $87,000 during Wednesday’s Wall Street open, drawing analyst attention to a buildup of short liquidations that could influence the next major price move. Market data suggests that liquidity conditions may support a potential rise toward $90,000, even as traders position themselves on both sides of the market.
Despite a slight boost to equities from fresh U.S. macroeconomic data, the crypto market remained largely unaffected. According to insights from Cointelegraph Markets Pro and TradingView, Bitcoin price action held steady, making $88,000 an increasingly significant zone for ongoing trading activity.
Analysts Highlight Critical Liquidity Zones
Market observer TheKingfisher pointed to large clusters of short liquidations around $88,253.90, which could act as fuel for an upward price move if triggered. Similarly, crypto investor Ted Pillows identified $89,000 as a crucial level for short positions. He suggested that if Bitcoin can reclaim this area, it may spark stronger bullish momentum. However, he also cautioned that a drop below $85,000 could drag the price downward.
Supporting this outlook, CoinGlass data emphasized major liquidity pockets near $84,500 and $88,500, reflecting areas where traders may see stronger volatility. While U.S. labor market data showed continued strength—helping push the S&P 500 toward all-time highs—Bitcoin maintained its stability, signaling ongoing resilience among crypto holders.
Overall, market analysts remain focused on Bitcoin’s nearby liquidity thresholds as the cryptocurrency decides its next directional move.
