Bitcoin breaks key range, triggers major long liquidations — $101K support now critical for bull structure

Bitcoin broke below $107K after nearly four months of consolidation, briefly dipping to $98K and triggering over $640 million in long liquidations—the second-largest flush since June 2021. The rapid sell-off forced leveraged traders out before buyers stepped in, pushing price back toward the key $101K level, which marks both psychological support and the lower boundary of the long-term bull channel since October 2023. Holding above $101K suggests a deviation-style dip and potential re-entry zone, while a sustained break below increases risk of deeper correction. Volatility has returned and leverage has been reset, with patience now favored over aggression. （CryptoQuant）