BlockBeats News, May 13th, according to Cointelegraph's report, data analysis platform Alphractal has pointed out the topic of Bitcoin's slowing upward momentum, noting that Bitcoin is approaching the $106,000 resistance level and retesting that range, increasing the risk of whale profit-taking.
Alphractal CEO Joao Wedson stated that from the charts, Bitcoin is currently nearing the "Alpha Price" range, which is where long-term holders or whales may choose to take profits.
From a liquidation perspective, the risk of a "long squeeze" is also increasing. If the Bitcoin price falls to $100,000, it will trigger the liquidation of large leveraged long positions. This price range may attract buying interest, leading to a retest of this key psychological level.
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