Bitcoin drops under $109K — How low can BTC price go next?

3 hours ago

Bitcoin (BTC) is teasing a breakdown beneath aged all-time highs astatine $109,300 — where volition BTC terms enactment caput next?

Crypto traders are acceptable with BTC terms targets arsenic bulls caregiver a 13% pullback from all-time highs.

Bitcoin’s cardinal trendlines successful danger

Bitcoin’s latest dive took BTC/USD beneath erstwhile all-time highs first seen successful January 2025.

That intelligence level present hangs successful the balance, but is not the lone adjacent level that observers are acrophobic about.

Various elemental (SMA) and exponential (EMA) moving averages hazard getting flipped from enactment to absorption arsenic terms struggles to halt its decline.

“BTC has breached beneath the 100 EMA connected the regular chart. That’s not a bully motion and could unfastened the doorway for a deeper correction toward $103K,” fashionable trader Cryptorphic warned successful an X post Tuesday.

“Historically, each driblet beneath this EMA has led to a short-term pullback. I’m watching intimately and hoping Bitcoin reclaims the level soon to support the uptrend intact.”

Data from Cointelegraph Markets Pro and TradingView shows the 100-day EMA astatine $110,820.

The 200-day SMA, meantime — a classical bull marketplace enactment enactment — sits little astatine conscionable nether $101,000. The past clip that BTC/USD traded beneath that inclination enactment was successful mid-April.

Speculators tipped arsenic BTC terms information net

As Cointelegraph continues to report, immoderate marketplace participants person overmuch little BTC terms targets successful mind.

These see a retest of the $100,000 people and adjacent a driblet backmost into five-figure territory. This is acknowledgment to a operation of weakening onchain metrics specified arsenic commercialized measurement and comparative spot scale (RSI) divergences.

For Axel Adler Jr., a contributor to onchain analytics level CryptoQuant, Bitcoin’s speculative capitalist basal whitethorn beryllium what saves the market.

“The nearest beardown enactment portion is the 100K–107K range, wherever the STH Realized Price and SMA 200D intersect,” helium noted Tuesday.

Adler referred to the aggregate outgo ground of short-term holders, defined arsenic entities hodling for six months oregon less. In bull markets, this outgo ground often functions arsenic support during pullbacks.

“Below that is further enactment astir 92–93K, a deeper enactment level reflecting the outgo ground of short-term investors who held coins for 3 to 6 months. This volition go a cardinal 2nd enactment of defence if the marketplace loses the 100K–107K level,” helium added.

Short compression to $114,000?

Bitcoin has sparked respective major liquidation cascades successful caller days arsenic agelong positions get punished.

Data from CoinGlass puts full BTC agelong liquidations astatine astir $500 cardinal since Sunday.

Exchange bid books uncover that the bulk of liquidity to the downside has been taken — starring to faint hopes of a marketplace rebound.

“$BTC downside liquidity has been hunted. And now, it seems similar shorts volition beryllium liquidated next,” fashionable trader BitBull predicted successful an X station Tuesday.

“I deliberation $BTC volition deed $114K-$115K this week, starring to a bully rally successful alts.”

$114,000 besides forms a level of involvement for analytics relationship TheKingfisher, who sees a “huge wall” of abbreviated liquidations coming should terms instrumentality there.

“Price often gets pulled to these levels. Smart wealth is apt utilizing this arsenic fuel,” it told X followers, suggesting that it could instrumentality conscionable days for the liquidity compression to occur.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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