Key takeaways
- BTC lost about 1% of its value over the past several hours and is currently trading below $103,500.
- The coin could slide toward the $100,000 support level if bearish sentiment persists.
Bitcoin falls below $104,000 as bears take control
The cryptocurrency market is experiencing a weak weekend so far, with Bitcoin and other major tokens trading lower. Bitcoin, the largest cryptocurrency by market capitalization, has declined roughly 1% in the last 24 hours, slipping below $104,000 during that period.
At the time of writing, the price of Bitcoin stands at about $104,400 and could continue to fall if bearish pressure persists. Bears taking charge over the past several hours triggered liquidations totaling around $450 million, primarily affecting long positions.
Data from CoinGlass shows that $387 million of those liquidations were tied to long positions betting on higher prices. James Toledano, Chief Operating Officer at Unity Wallet, commented:
“The mixed view on whether BTC will retake $110,000 or fall toward the $90,000 area is unsurprising and highlights the broader indecision felt by people and markets. Bitcoin’s current impasse reflects a market caught between longer-term sentiment and shorter-term macroeconomic and geopolitical uncertainty.”
BTC could drop to $100,000 amid bearish sentiment
Bitcoin is trading slightly above $103,000 but could move lower as bearish sentiment strengthens. Ongoing conflict in the Middle East continues to weigh on crypto markets, and no immediate resolution is visible.
Technical indicators point to further downside in the near term. The 4-hour Bitcoin MACD remains in negative territory, indicating sellers still dominate the narrative on higher timeframes. The relative strength index around 44 also suggests BTC remains under selling pressure from traders.
If bears continue to dominate, Bitcoin may test the $100,000 support level in the coming hours or days. Failure to hold $100,000 could quickly push BTC toward $90,000.
Conversely, if buyers regain control, BTC could target the next liquidity area near $106,672. Sustained bullish momentum could drive prices further toward transaction liquidity around $109,000.