- Bitcoin trades at $110,414 after losing horizontal support, with bearish pressure dominating price action.
- Derivatives data shows rising options activity, while open interest declines amid increased trading volume.
- Liquidation trends suggest shorts face greater pressure, yet price remains vulnerable below $113K resistance.
As of writing, the Bitcoin price sits at $110,414 With a 24-hour trading change of -1.23 and 7-day change of -4.03. A key break of support has changed the market mood, and the support indicated by derivatives is both pessimistic and optimistic.
Breakdown of Key Support Levels
The daily Bitcoin/USDT chart shared by Alpha Crypto Signal (@alphacryptosign) revealed a decisive bearish development. BTC broke below its horizontal support zone between $112K and $113K, an area that previously provided strong demand. This level has now flipped into resistance.
The price activity also indicates that BTC is trading below the 50-day simple moving average at $116,521 and 9-day exponential moving average at 113,369. A close beneath these moving averages strengthens the bearish structure, reducing the probability of a swift recovery. Sellers remain in control unless Bitcoin reclaims the lost support quickly and with volume confirmation.
Market analysts now turn attention to the $108K region, which may provide temporary relief. However, Alpha Crypto Signal warns that any bounce should be treated as a shorting opportunity rather than a trend reversal. Without reclaiming $113K–$114K convincingly, bearish pressure remains dominant.
Derivatives Data Signals Mixed Sentiment
Derivatives activity reflects strong participation, with total trading volume up +19.31% at $133.45 billion. The open interests on the other hand fell by -3.29 percent to 81.93 billion. This indicates that traders are reducing positions instead of buying long term exposure. This indicates speculative short-term trading remains prevalent.
In options markets, the volume increased by +60.60 percent to end at the mark of 5.84 billion, whereas, open interest increased by +3.27 percent to 54.03 billion. This increase reflects an increase in hedging and speculative activity, which often accompanies institutional approaches betting on further volatility. Options positioning continues to expand, supporting sustained market activity.
The long/short ratio of $0.9342 indicates a slight short bias in favor. However, the ratio at exchange level indicates stronger bullish conviction, with ratios above 2.0 at both Binance and OKX.
Liquidation Trends Add Bullish Pressure
Liquidation flows provide additional insight into current positioning. Over the last 24 hours, total liquidations reached $267.95 million. Of this, $221.20 million came from short positions, while longs accounted for only $46.75 million.
Across the 12-hour window, shorts absorbed $36.83 million in liquidations compared to $147.08 million for longs. This skew indicates that shorts continue to face stronger pressure as BTC price attempts minor rebounds. Even in shorter 1-hour and 4-hour frames, bears have been more exposed.
Despite these liquidation trends favoring buyers, Bitcoin remains below its broken horizontal support. Market bias stays bearish until BTC reclaims the $113K zone with strength. For now, traders are expected to treat any relief rallies cautiously while monitoring volume and open interest for confirmation of sustained direction.
