Bitcoin (BTC) recently reached a new daily high of $105,800 before pulling back by 3% in the evening to $101,000. It has since stabilized around the $102,000 mark, as market participants brace for the upcoming release of U.S. inflation data.
According to Joao Wedson, CEO of the data analytics platform Alphractal, Bitcoin is currently in a critical phase. In a post on his X account, Wedson warned that BTC has entered what he calls the “Alpha Price” range—a zone where long-term holders and large investors, commonly referred to as "whales," typically consider taking profits.
He emphasized that this zone brings a heightened risk of both profit-taking and a potential long squeeze—a scenario where traders in long positions rush to exit as prices dip, amplifying downward pressure and accelerating the price drop.
“This is an ideal time for OG Whales to make a profit,” Wedson stated. “I'm not saying the price will stop rising, but given the incredible accuracy of this on-chain pricing metric, everyone should be more careful and expect an oversold situation at some point in the future.”
Wedson added that if Bitcoin drops to the psychological support level of $100,000, it could trigger the liquidation of $3.4 billion worth of long positions, making that level particularly crucial in the short term.
Looking ahead, analysts believe the upcoming U.S. Consumer Price Index (CPI) report will significantly impact BTC’s next move. A lower-than-expected CPI could serve as a bullish catalyst for Bitcoin, while a higher reading may increase selling pressure and potentially drag the price below the $100,000 threshold.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research before making financial decisions.
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