Bitcoin (BTC) rebounded from a low near $99,700 on June 23 but encountered resistance at $108,800, showing weakening bullish momentum. AMBCrypto's analysis suggests a potential reversal is forming as traders and whales signal increasing caution.
BTC Hits Critical Resistance — Is a Reversal Imminent?
Chart analysis reveals BTC is trading at a historically strong resistance zone that has previously triggered sharp corrections. On June 30, Bitcoin approached $108,800 but closed lower at $107,135, repeating a typical rejection pattern near this level.
Key concerns:
- Stochastic RSI Death Cross: The %K line crossed below the %D line while still above the overbought 80 threshold, indicating weakening momentum.
- Bearish signals combined with critical resistance and death crossover patterns heighten the risk of a significant pullback.
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Binance and OKX Traders Go Short on Bitcoin
Derivatives data shows mounting short pressure:
- Binance long/short ratio dropped to 0.61 (only 37.97% long positions)
- OKX ratio fell to 0.59
- Combined $196.7 billion trading volume across both platforms
This overwhelming short interest suggests widespread bearish sentiment among traders.
Whales Exit as Retail Investors Take Over
Market dynamics show a clear shift:
- Declining open interest ($347 billion, down from recent highs)
- Smaller futures order sizes indicating reduced whale activity
- Retail investors dominating market movements
If retail traders maintain downward pressure while whales remain sidelined, Bitcoin could retreat to the $100,000 support zone.
Bitcoin Market FAQ
Q: Why is $108,800 significant for Bitcoin?
A: This price level has historically acted as strong resistance, often triggering price rejections and corrections.
Q: How reliable is the Stochastic RSI death cross signal?
A: When combined with other bearish indicators at key resistance levels, it becomes a stronger reversal warning.
Q: What does the Binance/OKX long-short ratio indicate?
A: Ratios below 1 show more traders are betting against Bitcoin's price rising — a bearish market sentiment indicator.
Q: Are whale movements really decreasing?
A: Yes, quantifiable through smaller average order sizes and reduced open interest in futures markets.
Q: Should retail investors be worried about this trend?
A: Not necessarily — market cycles often see whales exiting during consolidation periods before renewed institutional interest.
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