From Investing.com

December 13, 2024 11:30 AM:

Bitcoin is experiencing significant market volatility, with bid liquidity at the bottom and clearing ask liquidity at the top. Analysts suggest attention may shift to the Point of Control (PoC) and support levels near $98,000. External factors like the S&P 500 are impacting Bitcoin’s price, highlighting the influence of macroeconomic variables.

The New York session’s low is a key indicator for Bitcoin’s future movement. Staying above this level could signal increased passive bids, supporting an upward trend. Falling below could indicate acceptance of lower value, leading to a more significant correction. Traders are advised to monitor Bitcoin’s position within the value area and key support levels.

With liquidity extremes already swept, Bitcoin’s next move depends on finding and holding support. Traders should closely watch key levels and broader market cues for a clearer direction during this volatile period. Maintaining above $98,000 is crucial, as breaching this level could lead to further declines.

Read more at Investing.com: Bitcoin (BTC) in ‘Pain’ Mode, Top Analyst Explains By U.Today