Bitcoin Falls Below $109K, Tests $100K–$107K Support
Bitcoin price dipped below $109,300, slipping under its January 2025 all-time high. The BTC price decline risks flipping the 100-day EMA at $110,820 and the 200-day SMA near $101,000 from support to resistance. Popular trader Cryptomorphic warns that a breach of the 100 EMA could trigger a deeper correction toward $103,000. On-chain analytics from CryptoQuant’s Axel Adler Jr. highlights the 100K–107K range as the nearest strong support, backed by the short-term holder realized price and 200-day SMA intersection.
Continued downside liquidity hunting has liquidated nearly $500 million in BTC long positions since Sunday. Some traders see a short squeeze rallying BTC toward $114,000–$115,000 this week, driven by trapped shorts and order-book dynamics. A secondary support level around $92K–$93K emerges from short-term holders’ cost basis. Overall, Bitcoin price action remains volatile as traders monitor key moving averages and support zones. A sustained recovery above the 100 EMA is crucial to maintaining the bull trend.
Bearish
The fall below the 100-day EMA and the January 2025 all-time high at $109,300 signals a potential shift from bullish to corrective momentum. Historically, breaches of the 100-day EMA have preceded short-term pullbacks. The loss of this support, alongside pressure on the 200-day SMA, opens the door to deeper corrections toward $103K and potentially the 92K–93K range. Although some participants anticipate a short squeeze driving BTC to $114K–$115K, the prevailing trend is bearish until Bitcoin price reclaims key moving averages. Past episodes, such as the May 2022 correction after EMA breaches, demonstrate that only strong reclaimed support can reverse bearish sentiment. In the short term, traders may brace for further downside. Long-term recovery depends on regaining EMA support and sustained buying volume.