Bitcoin Hunts Liquidity at $106K as Traders Sniff Out the Start of a Bullish Reversal

Bitcoin is once again testing the $106,000 level, teasing traders with the possibility of a meaningful turnaround after a rocky start to the week. As the dust settles from recent dips below 2024’s late-year all-time highs, attention has turned to the liquidity zones lurking on both sides of the spot price—and whether BTC has the fuel to push higher or if another trapdoor lies ahead.

After sliding post-daily close, BTC clawed its way back as U.S. markets reopened June 3. According to BNC data, the rebound put Bitcoin right back into the $106K battleground zone—a key psychological and technical marker. The bulls are defending territory, but the real fight is about liquidity.

Bitcoin is sitting at exactly $106,000, Source: BNC Bitcoin Liquid Index

CoinGlass data shows clear liquidation clusters nearby, creating the ideal conditions for a sharp move in either direction. If Bitcoin wants to sucker-punch both longs and shorts, the board is perfectly set. But the smart money is also watching support levels—and there’s serious firepower below.

Still, nobody’s popping champagne corks just yet. Without a major good news catalyst, it’s unlikely Bitcoin will be smashing new all-time highs in the immediate future. While the current uptrend is intact, we haven’t seen the sort of aggressive continuation you’d expect above $100K—yet.

Profit-Taking Has Begun—but the Party’s Not in Full Swing

Meanwhile, Glassnode’s latest on-chain report shows that hodlers are locking in profits—but with restraint. The average coin sold is realizing a tidy 16% gain, which is notable, but far from manic. Historically, less than 8% of trading days have been more profitable.

The recent Bitcoin ATH breakout has led to a notable uptick in profits locked in, with the average coin capturing a +16% profit, wrote Glassnode, Source: X

That tells us two things. First, the market is indeed transitioning into a profit-taking phase. Second, and more importantly, we’re not in euphoric blow-off territory. No rampant retail mania, no parabolic FOMO-driven top. This isn’t December 2017 or April 2021.

That makes this cycle different. More mature? Maybe. More boring? Possibly. But also, maybe more sustainable. The structural bid from institutions, ETFs, and disciplined DCAers could be changing the very rhythm of Bitcoin’s heartbeat.

In short: Bitcoin is at a crossroads. It’s magnetized to $106K like a moth to a halogen lamp. The setup screams “volatility ahead,” but without a spark, we’re stuck in this grind. Smart traders are watching liquidity zones. Smarter ones are watching sentiment. The smartest? They’re quietly buying the dip and preparing for the next leg up. If you’re wondering if now is a good time to buy Bitcoin, it’s worth considering before the next Bitcoin bull market phase kicks in.

Is the United States About to Be Front-Run by Pakistan?

Samson Mow says it’s time for America to stop LARPing and start stacking sats—for real. The JAN3 founder thinks it’s geopolitically reckless that the U.S. government still hasn’t started actively acquiring Bitcoin for its strategic reserves.

“The irony is thick,” Mow told Cointelegraph Magazine. “The U.S. government practically handed the world the Bitcoin playbook—then just sat there while other countries actually used it.”

He’s referring to the executive order signed three months ago by Donald Trump—an attempt to spark a U.S. Bitcoin policy renaissance. But the response? Crickets. No coordinated acquisition plan. No reserve buildup. Nothing but a passive Bitcoin stash—mostly from FBI seizures and Silk Road raids—sitting in a digital broom closet.

Pakistan Is Playing Chess While the U.S. Plays Solitaire

At Bitcoin 2025 in Las Vegas, Pakistan’s crypto envoy Bilal Bin Saqib dropped a bombshell: the country is moving to establish a national Bitcoin reserve—and they’re crediting U.S. leadership as the inspiration.

“We want to thank the United States of America again,” Saqib said onstage, smiling the kind of smile you wear when you’re beating someone at their own game.

Mow is baffled by the U.S.’s inertia: “The risk isn’t theoretical anymore. You’ve got countries like Pakistan openly saying, ‘Thanks for the idea—we’re gonna act on it before you do.’ That’s embarrassing.”

To be clear, the U.S. does have Bitcoin—198,012 BTC to be exact, worth around $20.7 billion—but most of that came from criminal cases, not any kind of intentional strategy. It’s like finding gold coins in your couch cushions and calling it a treasure chest.

Mow says if the U.S. were serious, it would be making budget-neutral plays to increase its holdings. The most obvious? Sell some of the country’s gold. The U.S. still sits on the largest gold reserve in the world—8,133 metric tons. But even retail investors are rotating out of gold ETFs and into Bitcoin ETFs. The world is shifting. Why isn’t the U.S.?

“Gold is the inferior asset now,” Mow argues. “You could’ve started gradually shifting reserves months ago, before the window closes. The opportunity to swap out gold for Bitcoin without drawing from the budget? That window is closing fast.”

$1M Bitcoin? It’s Not Even a Bold Prediction Anymore

Mow doesn’t hedge: he sees a $1 million BTC price as inevitable. Not in 10 years—possibly within one. “That’s not career risk anymore,” he says. “It’s just math. If nation-states, pension funds, and corporations start buying at scale, the supply shock will make today’s price look like a joke.”

He predicts a major breakout before year-end.

“You can’t have Pakistan, El Salvador, Saylor, and U.S. politicians all playing this game without eventually triggering the kind of supply squeeze that lights Bitcoin on fire.”