Bitcoin at a Crossroads: Bulls Battle to Hold $100,990 or Face Market Carnage
Bitcoin's fate hangs by a thread as bulls scramble to defend the $100,990 line—fail here, and the sell-off could turn brutal.
### The Make-or-Break Moment
Market watchers are glued to charts as Bitcoin teeters above critical support. Lose this level, and the 'digital gold' narrative starts smelling more like fool's gold.
### Liquidity Tsunami Warning
Exchange order books show thin buy walls below $100k—a breakdown could trigger algorithmic feeding frenzies. Remember when 'institutional adoption' was supposed to prevent this? So much for that thesis.
### The Silver Lining Playbook
If support holds, we're looking at a textbook springboard for the next leg up. But in crypto, textbooks burn faster than FTX memos.
Analysis:
On the daily timeframe, BTC/USDT is trading around, down roughly 2% from recent highs. The pair has relinquished its Volume Profile Point of Control (POC) at, signalling that the distribution of traded volume is shifting lower.
Since early May and again in June,has acted as a critical demand zone (circled), absorbing selling pressure and triggering short-covering rallies. Those rebounds have formed a series of lower highs—first at, then at, and most recently near—which together construct a bearish trend channel.
- Immediate support: $100,990 (tested May and June)
- Key resistance: $104,825 (former POC)
- First downside target: $97,596
- Secondary downside target: $94,785
As highlighted in our prior XRP/USDT analysis,on its head-and-shoulders breakdown added to the risk-off sentiment across the crypto space. That weakness in XRP underscores the broader downside pressure on BTC and suggests bulls may face an uphill battle defending critical support.
Conclusion
The next 48–72 hours are pivotal. Bulls must demonstrate conviction ator risk accelerating the sell-off toward $95K. A clear break abovewould alleviate near-term bearish pressures and set the stage for a recovery leg; otherwise, the path of least resistance remains to the downside.
This analysis is for informational purposes only and should not be considered trading advice. Always perform your own due diligence and consult a financial professional before making any trading decisions.
