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Bitcoin’s price has resumed its decline, slipping below the $110,000 mark as selling pressure intensifies across the broader crypto market. The move signals renewed bearish momentum, with analysts warning that the leading cryptocurrency could face further downside if key support levels fail to hold.
Bitcoin Faces Rejection Near $110,500
After briefly attempting to recover, Bitcoin (BTC) once again met resistance near the $110,500 pivot level and failed to maintain its upward momentum. This rejection sparked another round of selling that pushed the price beneath $110,000 and $109,500, confirming a shift back into a bearish zone.
Market data shows that BTC dropped below the 50% Fibonacci retracement level of the prior rally from $106,312 to $111,000, signaling a breakdown in short-term bullish structure. Additionally, a bearish trend line has formed near $109,800, serving as immediate resistance on the hourly BTC/USD chart, according to Kraken data.
At press time, Bitcoin is trading below $109,000 and remains under the 100-hour Simple Moving Average (SMA) — a technical signal often associated with weakening momentum.
Key Resistance Levels Ahead
If buyers attempt another rebound, Bitcoin could face significant resistance around the $109,500–$109,800 zone, followed by a stronger barrier at $110,500.
A sustained move above this level could help BTC regain short-term strength, potentially pushing the price toward the next resistance at $111,200. Continued bullish momentum might then pave the way for a test of $113,500, with a broader upside target around $115,000–$115,500 if sentiment improves.
However, analysts caution that any recovery attempts are likely to be limited unless Bitcoin manages to close decisively above $110,500 — a level that has repeatedly capped gains over the past week.
Risk of Deeper Losses
On the downside, immediate support lies at $107,400, coinciding with the 76.4% Fibonacci retracement level from the last recovery wave. A break below this area could expose Bitcoin to additional losses.
The next major support zones are located near $106,500 and $105,500, both of which have previously acted as strong buy zones during pullbacks. Should BTC fall beneath these levels, traders warn that the price could revisit $104,200 or even $103,500, where a deeper correction might stabilize before a meaningful rebound.
Below $103,500, technical analysts note that Bitcoin could enter a prolonged consolidation phase, making short-term recovery efforts increasingly difficult.
Market Outlook: Sentiment Weakens
The renewed decline in Bitcoin has weighed on the broader crypto market, with major altcoins also showing mild losses amid weakening investor confidence. Traders are closely watching the $107,000–$106,000 range, as losing this area could reinforce bearish sentiment heading into the new week.
Despite the recent downside, some analysts view the retracement as a healthy cooling period following Bitcoin’s sharp rally to its all-time high near $111,000 last month. Still, with risk appetite fading and global markets showing caution, short-term volatility is expected to persist.
Until Bitcoin reclaims $110,500 convincingly, the bearish bias remains intact, with the possibility of another retest of the $105,000–$103,000 region in the near term.
