Bitcoin Support Under Attack as Bears Threaten to Push BTC Below $100,000
Bitcoin’s (BTC) price is facing renewed selling pressure this weekend, with bears aiming to push the world’s largest cryptocurrency under the $100,000 threshold — a critical psychological and technical level that has acted as a line of defense throughout October.
At press time, BTC traded near $102,400, down 3.6% in the past 24 hours, according to CoinMarketCap data. The move comes as risk assets remain volatile following recent macroeconomic data and a softening dollar rally.
Bulls Losing Grip on the $100K Zone
Bitcoin’s recent attempt to reclaim $110,000 was met with heavy rejection, forming a double-top structure on the daily chart. Analysts now warn that a break below $100,000 could trigger a cascade of liquidations across leveraged futures positions.
“The $98,000–$100,000 range is the battleground. If it fails, we could easily see a flash move to $92,000 before buyers step back in,”
said crypto strategist Ali Martinez, citing declining open interest and weakening momentum.
Technical indicators such as the Relative Strength Index (RSI) and MACD have both flipped bearish on the daily timeframe, suggesting that market sentiment is shifting toward caution.
Macro Headwinds Add Fuel to the Fire
The recent Federal Reserve statements hinting at a slower pace of rate cuts have cooled bullish enthusiasm across global markets. Meanwhile, rising Treasury yields and profit-taking from whales who accumulated below $70,000 earlier this year have amplified sell pressure.
Additionally, data from Glassnode shows that short-term holders have started to offload BTC into strength — a typical precursor to mid-cycle corrections.
What’s Next for Bitcoin?
If Bitcoin loses the $100,000 handle, the next visible support lies near $94,500, followed by $88,000, where the 200-day exponential moving average (EMA) currently sits.
However, analysts also note that any dip into this zone could be short-lived as institutional demand from ETF inflows remains strong.
“Corrections are healthy in extended bull markets,”
added trader Rekt Capital,
“The $100K retest might simply reset momentum for a renewed push toward $130K–$135K by year-end.”
Key Levels to Watch
- Immediate Resistance: $107,000
- Critical Support: $100,000
- Bearish Target: $94,500 – $88,000
- Bullish Continuation Zone: $112,000 – $118,000
Bottom Line
Bitcoin’s price faces its most important test of the quarter.
Whether BTC can hold the $100K support could define the trajectory of the next leg of the bull market — or mark the beginning of a long-awaited correction.
Either way, volatility is back, and traders should expect sharp moves in the coming sessions.
