Bitcoin News Update: Bitcoin’s $100,000 Support Falters Amid Rising Death Cross and Increased Miner Sell-Off
- Bitcoin's failed $107,000 breakout triggered a "death cross" bearish pattern as 50-day SMA fell below 200-day SMA, signaling prolonged downward pressure. - Key support at $104,000 becomes critical for stabilizing BTC, with CME futures gaps potentially enabling bounces if buyers intervene. - Institutional panic selling risks accelerating declines below $100,000, with ETF liquidity "air pockets" at $93,000 amplifying volatility concerns. - Miner selling and weak ETF inflows constrain recovery attempts, whi
Bitcoin’s latest price movements have drawn increased attention as the cryptocurrency encounters significant turning points after failing to break past $107,000. The rejection at this resistance level has fueled renewed bearish outlooks, with market observers pointing to the formation of a “death cross”—a negative technical signal where the 50-day simple moving average (SMA) falls below the 200-day SMA. This pattern, initially highlighted in a Coindesk report
The unsuccessful effort to reclaim $107,000 has shifted focus to the next major support at $104,000, with traders preparing for possible sharp price swings. Data from Cointelegraph and TradingView indicate that Bitcoin’s inability to maintain levels above $107,000 has sparked concerns about a potential move back to $100,000
Meanwhile, the selling activity from miners is adding complexity to Bitcoin’s short-term prospects. According to Crypto News, a rise in miner sales, combined with slowing ETF inflows, might limit Bitcoin’s ability to recover within the $100,000–$108,000 band
As Bitcoin approaches these crucial price levels, the next few weeks will reveal whether buyers can regain momentum or if sellers will strengthen their hold on the market’s direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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