Bitcoin begins to test support "normal and healthy" as the $108K mark halts the upward momentum

Bitcoin has cooled its upward momentum at the time Wall Street opened trading on June 25, as $108,000 has become a crucial breakout level for the bulls.

BTC 4-hour chart | Source: TradingView## Bitcoin pauses as whales increase their exposure

Data from TradingView shows that BTC is returning to a consolidation phase after a breakout to the highest level in 10 days.

After raising liquidity, Bitcoin is situated above a bid cloud as sellers line up near the all-time high, according to data from the monitoring source CoinGlass.

BTC liquidation heat map 24 hours | Source: CoinGlassMarket participants have differing views on what might happen next, with smaller investors taking profits while whales and other large entities increase exposure.

"When BTC attempts to reclaim $108,000, the Accumulation Trend Point does not show a unified group behavior. Wallets holding 1–10 BTC continue to distribute, while those holding 10–100 BTC accumulate net. Others display mixed signals, although the overall point has recovered from 0.25 to 0.57," the on-chain analysis company Glassnode reported in a part of its analysis on X.

Accumulation Point Chart of Bitcoin Trend | Source: GlassnodeWhales accumulating often indicate that the "smart money" group believes in the upcoming profits.

Continuing, the famous commentator TheKingfisher has identified $107,000 as the point where significant Long liquidations will occur.

Source: TheKingfisherThe day before, the trading source Material Indicators revealed all types of buy orders when the price increased, except for smaller retail traders.

"FireCharts shows small liquidity blocks appearing in the order book to keep the price of BTC high amid nominal profit-taking. It is completely normal to see traders taking profits in this range while long-term investors continue to HODL," the source shared, quoting one of the exclusive trading tools.

Liquidity data of the BTC/USDT order book as of June 25 | Source: Material Indicators## Bitcoin analyst sees buying opportunity at $105,700

Meanwhile, co-founder of Material Indicators Keith Alan has observed a "normal and healthy" price pullback after the surge to $108,000.

"If the price drops below the 50-day SMA, I will predict another breakout to eliminate weak hands and I will look for my next buying opportunity," he concluded, referring to Bitcoin's 50-day simple moving average at around $105,700.

The accompanying chart shows the recent daily "buy" signals in green and "sell" signals in red on another trading tool.

BTC 1-day chart | Source: Keith AlanĐình Đình