Bitcoin ‘teleportation’ due to traders passing $100k in BTC price.

Bitcoin made quick gains on Nov. 21 as liquidity squeezed BTC's price action to around $100,000.

Bitcoin gaps are higher with sellers above $100,000.

Data from Cointelegraph Markets Pro and TradingView showed what trader Skew called a “pop” at the last key of demand liquidity before the six-figure Bitcoin (BTC) price barrier.

At the time of writing, up nearly 3% on the day, BTC/USD was below the historic high of $3,000.

“It makes sense to run $100,000 upfront in a game concept if the big sellers are going to take a stand,” Skew said in a post on X.

“I think any deep sweep from here is a bid, otherwise the price will continue to be well over $100K.”

An additional post revealed that new demand liquidity has begun to arrive on exchange books above $100,000 – something that's quite pricey.

“The new ask liquidity seen here is a good indication that the market price has started above $100K,” Skew wrote.

“A Big Day Ahead.”

Cointelegraph has long reported the significance of the $100,000 mark, which will be reached faster than many expected, Bitcoin has gained 38% in three weeks.

“The common mind cannot understand Bitcoin > $100K,” said Charles Edwards, founder of quantitative bitcoin and digital asset fund Capriole Investments.

“As a result, between 90-100 a tonne of supply unloaded. The teleport will happen over $100K as the masses will re-enter with FOMO.

According to tracking source data, CoinGlass has posted more than $92 million in short BTC liquidations in the 24-hour period at the time of writing.

BTC Price Support Test “Welcome”

A word of caution came from those expecting a test of support to confirm market strength at higher levels.

Related: Bitcoin Metric Breakout Teases Next 90% BTC Price Rally ‘Inevitable'

In a recent analysis post on X, Trading Resources Material Indicators suggested that the lower $90,000 range would be a suitable zone to revisit.

Uploading a BTC/USDT order book view on the largest global exchange, Binance, noted that there is no shortage of buy-side liquidity below price if sellers have control over lower timeframes.

“FireCharts shows $BTC ask between $98k and $100k and a thin bid liquid payout below that,” he wrote.

“I like testing local support at $91k, there is a small buying wall at $95k where the price can go higher and higher.”

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.