Bitcoin Liquidity Cluster at $109K Could Trigger Explosive Move

In a recent post, Merlijn highlighted that a dense pocket of liquidity between $109,000 and $110,900 is acting less like resistance and more like a magnet—drawing price action toward it.

“That’s not resistance, that’s a magnet,” he noted, referring to the concentrated order cluster visible on the heatmap.

June 6th: A Leverage Flush That Cleared the Air

Merlijn points to June 6th as a key moment when excess leverage was flushed from the system. On-chain and derivatives data shows:

Open interest dropped by 10% Funding rates reset to neutral Overleveraged longs were wiped out

This event, rather than marking weakness, suggests the market has now expelled weak hands and re-established a healthier foundation for a move higher.

“No structural weakness, just weak hands gone,” he explained. “This clears the runway for a clean push.”

Stuck Between Bids and the Breakout

Currently, BTC is in “no man’s land,” Merlijn notes, trading between strong bid support at $100K and a sell wall just above $109K. However, he believes this is classic price action behavior—ranging, followed by accumulation, and then expansion.

“Momentum’s brewing. And the path higher is wide open,” he concluded.

With liquidity stacked above and leverage cleansed, the technical setup supports a high-volatility breakout if price can make a sustained push into the $109K+ zone.

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