Bitcoin Dips Under $108K on OKX, Breaching Key Support
Bitcoin fell below the key $108,000 support level on OKX, trading around $107,956. The 24-hour drop of up to 2.88% broke a major psychological barrier. Profit-taking ahead of potential macro events and rising market volatility intensified bearish sentiment. The breach triggered stop-loss orders, increasing selling pressure and choppy trading conditions. Traders should monitor whether Bitcoin can reclaim $108,000 or faces further downside, with the next support near $106,000. Watching order-book depth and on-chain metrics will be crucial to gauge if Bitcoin stabilizes or extends its slide.
Bearish
The breach of Bitcoin’s $108,000 support and triggered stop-loss orders suggests increasing selling pressure on Bitcoin. Short-term bearish sentiment may prompt further declines toward $106,000. Elevated market volatility and profit-taking signal cautious trading. While a rebound is possible if Bitcoin reclaims $108K, the current momentum favors a bearish outlook in the near term.