Bitcoin is hovering near the 110,000 USD support, attracting substantial long positions from whales. Despite a recent 4.26% pullback from local highs, the ongoing situation may indicate a potential liquidity trap despite large open interest being skewed towards longs.
Market conditions suggest balancing risks, as order book data reveals thin buy-side liquidity against heavy sell pressure. This situation may enable whales to manipulate the market, potentially leading retail investors into unfavorable trades amid a broader atmosphere of uncertainty.
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