Despite a recent slowdown in Bitcoin's price sell-off due to buying activity from both retail and large traders, there are warnings of a potential drop to $106,000. Currently, Bitcoin is attempting to maintain a price level around $112,000, following the liquidation of $1.62 billion in long positions. Analysts indicate that the bull market may be facing significant challenges, especially with sellers continuing to dominate trading activity. The trading volume in both spot and perpetual markets remains weak, suggesting that a trend reversal might be difficult to sustain. Current data shows that selling pressure is high, especially for leveraged positions, which could lead to additional sell-offs if Bitcoin price breaks below $110,000. Overall, while there is buyer interest at this level, the market remains cautious, with liquidation heatmaps indicating potential for further downward movement in price.

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