Bitcoin ‘Buy the Dip’ Calls Surge Amid Potential Pullback Toward $107K
Bitcoin (BTC) has sparked a wave of “buy the dip” chatter on social media, even as technical and liquidity data suggest the market could see further downside.
The leading cryptocurrency fell over 3% this week to $111,590, breaking below its 50- and 100-day simple moving averages (SMA). Both indicators, flat for the first time since April, signal waning bullish momentum.
Mentions of “buy the dip” across Reddit, Telegram, and X (formerly Twitter) reached near-monthly highs, according to Santiment. The platform noted this surge as a contrarian indicator—retail optimism often precedes short-term price dips.
Order book data from Hyblock Capital highlights $107,000 as the largest liquidity cluster, a level likely to act as a price magnet. Smaller liquidity zones also exist at $109,000 and $111,000, offering potential support.
While retail enthusiasm remains strong, BTC may test these levels before stabilizing for a potential rebound.
