Bitcoin trend reversal to $118K or another drop to $105K: Which comes first?

Bitcoin traders have been buying all the dips but BTC is still stuck in a downtrend. Here’s why.

Key takeaways:

Retail traders are aggressively buying BTC price dips in spot and futures markets, but net selling from larger order investors is preventing a robust price recovery.

Risk of another liquidation cascade to $105,000 seems less likely, but investor sentiment is misaligned with the trend seen in assorted cumulative volume data cohorts.

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