On May 13, according to Cointelegraph, data analysis platform Alphractal pointed out that Bitcoin's upward momentum is slowing down, approaching the resistance level of $106,000 and retesting this range, which increases the risk of whales taking profits.
Joao Wedson, CEO of Alphractal, stated that from the chart, Bitcoin is currently approaching the "Alpha price" range, which is a position where long-term holders or whales might choose to take profits.
From a liquidation perspective, the risk of a "long squeeze" is also rising. If Bitcoin's price falls to $100,000, it will trigger large-scale leveraged long positions being liquidated. This price range might attract prices, potentially leading to another test of this critical psychological level.
