BTC Faces Volatility Around $42K as Traders Debate New Trend or Bull Trap
• BTC faces volatility as it focuses on $42K; question is whether latest move is a new trend or bull trap
• Order book data shows bids concentrated at $41.5K and $40.7K, but little sell pressure above spot price
• Analysis suggests whales attracted enough bids to distribute into, selling $86M off in 30 minutes once bids disappeared
• Key long-term price levels like $42K, $48K, $52K, and $69K (ATH) remain psychologically important for market sentiment
• Traders debate whether latest move is start of uptrend or bull trap before next leg down