Bitcoin failed to close above $117,200, creating potential for support retests with a $4.9 trillion options expiry event on Friday. Order-book liquidity shows bids clustering at $110,000 and above, acting as a “magnet” for price movement. Traders anticipate short-term losses after missing a key daily close. Popular analysts predict downward pressure through the week’s options expiry. Exchange order-book liquidity points towards lower levels, with most liquidity between $110,000 and $113,000. Glassnode notes shifts in order-book composition post-Federal Reserve meeting, with BTC shorts at 117k taken out and long liquidations appearing at 112.7k.

Read more at Cointelegraph: Bitcoin Price Targets Include a Return to Take $110,000 Liquidity