According to Skew Δ, Bitcoin (BTC) experienced another sweep at the $104,000 level, with visible passive buyers and significant orderbook size indicating this price is crucial to the current market structure (source: @52kskew, Twitter, June 18, 2025). Earlier long positions have been flushed out, while bid depth has increased across both major orderbooks, suggesting robust support and heightened trading interest at this level. Traders should closely monitor price reaction near $104K for potential entry or exit signals, as these orderbook dynamics often precede high-volatility moves relevant for both spot and derivative BTC markets.

According to Skew Δ, Bitcoin (BTC) is experiencing a positive market reaction following headlines of de-escalation. The orderbooks show a noticeable skew toward bid depth, with more bids positioned close to the current price compared to asks, indicating strong buying interest. Additionally, perpetual futures positioning remains heavily short, reflecting defensive stances by traders, but some initial long positions are emerging. These factors suggest potential upward momentum for BTC as traders reassess risk and market sentiment shifts. Source: Skew Δ on Twitter, June 18, 2025.