Bitcoin Nears Death Cross, Tests $100K–$108K Support Zone
Bitcoin is approaching a potential death cross as its 50-day moving average nears a crossover below the 200-day average. At present, BTC trades around $104,880 after dipping to $102,422 following October’s flash crash. This would be the fourth death cross since 2023, following events in September 2023, August 2024 and April 2025. On-chain data from Glassnode show key cost-basis quantiles at $100,600 (0.75) and $108,500 (0.85), which have historically acted as support and resistance. A break below $100,600 could trigger further downward pressure, while a move above $108,500 may signal renewed bullish momentum. Traders will also watch resistance levels at $111,000 and $116,000 for potential volatility. Historical patterns suggest that death crosses often mark local bottoms, offering contrarian buying opportunities. However, as the 50-day MA descends, confirmation of the Bitcoin death cross could prompt short-term bearish sentiment. In the medium term, $100,000–$108,000 is viewed as a crucial support zone. Traders should monitor these technical thresholds alongside broader market drivers, including macroeconomic trends and regulatory developments, to navigate possible price swings effectively.
Bearish
The anticipated Bitcoin death cross—when the 50-day MA crosses below the 200-day MA—typically signals waning short-term momentum, often prompting traders to reduce positions. Historically, similar crossovers in September 2023, August 2024, and April 2025 coincided with local price bottoms near $100,000, followed by strong recoveries. Despite these bullish reversals, initial market reaction tends to be cautious or negative, as lower moving averages are viewed as bearish triggers. In the current context, BTC’s drop to $102,422 and its testing of the $100,600 cost-basis level could exacerbate selling pressure if breached. Conversely, holding within the $100,000–$108,000 zone may attract accumulation by contrarian investors. In the short term, confirmation of the death cross is likely to reinforce bearish sentiment, increasing volatility and encouraging stop-loss orders for risk-averse traders. Over the long term, however, this pattern may serve as an entry opportunity, given past precedents of rebounds after death crosses. Traders should watch key thresholds—especially $100,600 support and $108,500 resistance—and consider macro drivers when planning positions.