BTC Price Pullback Deepens: Is a Bitcoin Drop to $100K Imminent?

TLDR:

• BTC price slipped below $108K, marking its weakest level in weeks as traders turn cautious near $100K.
• The $100K zone is seen as the next key support, aligning with Bitcoin’s 365-day moving average trendline.
• On-chain data shows $100K as a major psychological level that may trigger volatility if breached.
• Analysts say liquidity has been cleared, leaving BTC in a choppy zone between $98K and $114K.
  

Bitcoin’s latest price action has traders on alert. After weeks of sideways movement between $120,000 and $108,000, the world’s largest cryptocurrency has broken lower. 

The move adds pressure to an already shaky market where short-term traders are re-evaluating risk. Analysts say the $100,000 level now holds the key to Bitcoin’s next direction. If that support fails, deeper corrections could follow.

Per data from CoinGecko, Bitcoin is trading at $107,123 with daily volume above $96 billion. The coin is down 0.68% in the past 24 hours and 8.67% in the last week, extending its slide from last month’s highs. Traders appear cautious as volatility tightens and market liquidity thins.

Traders Turn Focus to $100K BTC Price Support

Julio Moreno, Head of Research at CryptoQuant, said Bitcoin’s latest drop puts $100,000 at the center of attention. 

He explained that $100K aligns with the on-chain “Realized Price Lower Band,” which has provided support during this entire bull run. Moreno added that the same zone also matches the 365-day moving average, making it a confluence level for both technical and on-chain metrics.

Market watchers describe $100K as not just a data point but a psychological barrier. It’s the round number that tends to draw reactions from retail and institutional traders. 

A break below that line could lead to forced liquidations and panic selling. Still, others believe such a drop might attract long-term buyers looking for discounts.

Traders on X (formerly Twitter) have echoed mixed reactions. Some see this move as a shakeout before another leg up. Others warn that if support fails, the next meaningful area sits closer to $98K.

Analysts Eye Liquidity Zones and Volatility Levels

Crypto trader Daan Crypto Trades noted that Bitcoin has been “hunting liquidity” for months. He described the latest drop as the largest flush of this cycle, affecting altcoins more heavily than Bitcoin itself. 

According to him, BTC has spent most of this period moving between wide ranges, shaking out both longs and shorts.

Daan added that no major liquidity clusters are nearby, meaning the price could remain unstable before it finds direction. 

He marked $98K and $114K as the next areas to watch on higher timeframes. Traders expect consolidation to continue, but many agree the next big move depends on whether Bitcoin can hold above that critical $100K threshold.

For now, Bitcoin remains range-bound and unpredictable. Traders are eyeing liquidity zones and waiting for confirmation before taking positions.