Bitcoin price climbed above $110,000, but bearish pressure remains. BTC needs to turn $110,500-$112,000 into support to avoid dropping to $100,000. Spot demand fell to $7.7 billion, signaling weak investor participation. Futures market saw cautious positioning with a decrease in open interest to $45 billion. Traders are adopting a defensive stance amid volatility. Bitcoin liquidity map shows clusters at $110,000-$111,000 and $105,500-$107,000. Reclaiming the 20-day EMA at $112,500 is crucial to avoid a drop to $105,000 and $100,000.

Read more at Cointelegraph: Bitcoin Traders Adopt ‘Defensive’ Stance as Price Reclaims $110K