Bitcoin's price has once again fallen below previous all-time highs of $109,300, with traders discussing potential support levels.
Key Trends and Support Levels
Bitcoin's recent dive has pushed BTC/USD below levels that were previously considered record highs since January 2025. Traders are concerned that both simple and exponential moving averages might flip from support to resistance as the price declines.
"BTC has broken below the 100 EMA on the daily chart. That’s a bad sign and could open the door for a deeper correction toward $103K," warned popular trader Cryptorphic.
Traders' Speculations on Bitcoin Price
Some market participants are starting to predict lower targets for BTC, potentially including a retest of the $100,000 mark and even a drop back into five-figure territory. This is due to weakening blockchain metrics such as trade volume and relative strength index (RSI) divergences.
Expert Axel Adler Jr. highlighted that the nearest strong support zone is the $100K–107K range, where the short-term holder's realized price and the 200-day SMA intersect.
Possible Short-term Price Scenarios
Bitcoin has triggered several major liquidations, with data showing that long liquidations reached nearly $500 million since Sunday. New traders, like BitBull, predict that BTC could hit $114K-$115K this week, likely leading to a rally in other cryptocurrencies.
Currently, Bitcoin continues to encounter volatility, with recent declines raising concerns among traders. Monitoring key support levels and market participant responses will be crucial for further analysis of the situation.
