Bitcoin News: Bulls Struggle to Defend Key Support Levels as Price Corrects

Bitcoin's price faces downward pressure as it fails to break the $107,200 resistance. With the price now below $104,500 and the 100-hourly Simple Moving Average, the focus shifts to whether bulls can hold the $100,000 support level.

Bitcoin Price Slides Once More: Can Bulls Defend Key Levels?

Bitcoin price struggled to clear the $107,200 resistance zone. BTC is correcting gains and might revisit the $100,000 support zone. Bitcoin started a downside correction from the $107,200 zone. The price is trading below $104,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $103,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $100,500 support zone.

Bitcoin Price Dips Again

Bitcoin price started a decent upward move above the $103,500 zone. BTC was able to climb above the $104,500 and $105,000 levels. The bulls even pushed the price above the $106,000 level. However, the bears were active NEAR the $107,200 zone. A high was formed at $107,200 and the price is now correcting gains.

Bitcoin Profit-Taking Drops 93% From December Peak – What’s Next For BTC?

After testing the low $90,000 price level multiple times over the past two months, Bitcoin (BTC) briefly broke out of its tight trading range earlier this week, reaching a new all-time high (ATH) of $108,786. However, a recent report by Glassnode suggests that the sustained consolidation observed in recent months may be nearing its end, with the leading cryptocurrency primed for its next significant move. According to the latest edition of Glassnode’s ‘The Week On-Chain Report,’ BTC profit-taking volumes have dropped significantly, falling from a peak of $4.5 billion in December to approximately $316.7 million – a sharp decline of 93%. This drop in profit-taking signals a substantial reduction in sell-side pressure for Bitcoin. Currently, BTC is trading within a tight range, and market participants are closely watching for the next major price movement.

Bitcoin’s Demand in the Last 7 Days and Its 2025 Outlook

Bitcoin spot flows remained positive even after the Trump inauguration, indicating strong demand. MicroStrategy made another large Bitcoin purchase at over $100,000, further highlighting institutional interest. The market responded positively to Trump’s inauguration, with Bitcoin rallying to a new all-time high (ATH) on the same day. This suggests a bullish outlook for Bitcoin in 2025, especially with the U.S. having a pro-crypto president and the resignation of Gary Gensler as SEC chair being received positively.

Bitcoin traders, miners unite – Could BTC soar 560%?

Bitcoin [BTC] has established a new price level above $100,000 for the second time this year, hitting an all-time high of over $109,000. This milestone suggested that $100,000 could potentially serve as a new psychological support level, with bullish market sentiment providing further momentum for price increases. AMBCrypto analysis showed that the ongoing exchange of BTC between short-term and long-term holders was further contributing to the optimistic outlook for the cryptocurrency. According to insights from CryptoQuant, short-term Bitcoin holders have started selling at a loss, as indicated by the data.