Bitcoin’s price has recently fallen to around $100,000, where it encountered buying interest and initially recovered, rising to approximately $104,000. However, following declines on Wall Street yesterday, Bitcoin dropped again toward $101,000, and we now see that the bearish sentiment persists across the broader cryptocurrency market.
Looking at previous correction patterns, we can observe that each pullback has been very similar in scale—almost 1:1 corrective moves within the ongoing uptrend. Interestingly, since Bitcoin’s drop to $48,000 in the summer of 2024, the low of the following sell-off in spring 2025 formed about $26,000 higher (around $74,700). If this proportional range were to repeat, the current correction could bottom out around current levels.
On the other hand, the depth of previous downward impulses was slightly greater, which would now imply a potential decline toward $94,000, effectively erasing nearly all of this year’s gains. Based on price action analysis and indicators such as RSI and MACD, market conditions appear oversold, and the key short-term support level remains near $100,000, where we already observed a strong buying reaction—further reinforced by a similar rebound seen in June.
Conversely, the main resistance level is currently the 200-day EMA, located near $110,000, which also coincides with an important on-chain level—the average purchase price of short-term holders. A move toward that area would likely ease selling pressure among retail investors. The biggest risk remains a continued correction in the stock market, which could push Bitcoin below the $100,000 threshold.

Source: xStation5
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