Get ready for a thrilling ride as Bitcoin (BTC) prices teeter on the brink of a monumental breakthrough! Institutional cash is flooding into Bitcoin Spot ETFs, but there's a significant hurdle at the $104.9K resistance level that bulls must conquer.

Despite dwindling over-the-counter (OTC) liquidity, there are high leveraged liquidity levels lurking beneath the $101K mark. Since mid-April, Bitcoin Spot ETFs have amassed impressive investment flows, solidifying institutional interest and outpacing outflows by a staggering margin.

The price of Bitcoin has steadily climbed, reflecting the bullish sentiment supported by ETF investments, with nearly $1 billion in net inflows. However, experts warn that any slowdown in this momentum could send prices tumbling downward.

### Key Price Levels: Are We Setting Up for a Breakout?

Recent analysis reveals Bitcoin's trading has oscillated between key levels. Initially, BTC consolidated between $83K and $86K, then broke out into a new range of $93K to $96K. The latest surge has created a tighter band of $101K to $105K.

Traders anticipate that a decisive move above $105K could signal an enduring uptrend, possibly leading to new all-time highs. Conversely, falling below $101K could initiate a bearish trend and trigger support tests.

### The Liquidity Drought: What It Means for Prices

Bitcoin's liquidity has been plummeting across all trading platforms, suggesting a tightening market. This rapid reduction in available BTC could actually spark a price surge if demand remains high, potentially occurring as soon as 2025.

Current data reveals critical liquidation points for positions with lower leverage situated up to the $101,000 level. Notably, high leverage long positions have been spotted at $99,459 and $98,669, alongside medium leverage at $100,522 and $100,033.

When it comes to short positions, low leverage liquidations are visible at and above current prices, particularly around the $105K mark. This setup shows a concentration of liquidity close to the $101K threshold, hinting at a potential supply squeeze that could trigger price hikes.

Yet, if prices descend towards the liquidation levels under $101,000, we could see a domino effect of selling that drives BTC even lower before any signs of a recovery emerge due to the anticipated supply shock. Buckle up—crypto traders, it's going to be an exhilarating journey!