Bitcoin prices are still above $100,000 and are still very close to its all-time high of $111,900. However, this does nothing to discourage the bearish sentiment that continues to undermine the cryptocurrency market. Especially the greatest pain AltCoins suffers, seems to have no end. Given the current market sentiment, although still above $100,000, a crypto analyst still gives the reason behind the bearish price of Bitcoin.
Why Bitcoin Price Still Bearish
In the analysis, crypto analyst Anup Ziddi pointed out why Bitcoin prices may continue to see bearish trends from here. First, the leading cryptocurrency with market capitalization continues to trade below significant levels at $107,000.
So far, $107,000 has become an important level, and has become a resistance in Bitcoin’s recent bid for a new all-time high. After the price fell, it became resistance again, and the Bulls were unable to clear this level to restore this uptrend. Given this, if the price will continue to rise, it is now at the $107,000 level.
According to crypto analysts, as long as the price of Bitcoin remains below this level, the price of Bitcoin is still quite good. The less than $107,000 it trades, the higher the chances of crashing from here. The first target is $103,500, a level that has been tested earlier this week. Then, after that, $102,500 swim, and before reaching significant support, there is $100,000 as the ultimate goal.
In addition to Bitcoin price trading below such an important psychological level, crypto analysts also point out that geopolitical situations will worsen as a catalyst for decline. This is believed to be the fall of Bitcoin prices after Donald Trump’s new tariff war, putting financial markets into turmoil.
Push down BTC
Another analyst also called a bearish around Bitcoin price and expects assets to fall further. Analysts point out that things like liquidity scans, fair value gaps and market structure are the reasons for the market decline.
Analysts explain that a rise above an all-time high is not a real breakthrough, calling it a stop to hunt. in addition, Fair value gap Prices are $105,600 and $106,000, and since the Bitcoin price cannot recover this level, the possibility of further pullbacks is increased.
Last but not least is restoring the Bitcoin price to $104,300, which analysts see as the first sign of bearish persistence. “If prices return to this imbalance and show rejection, I expect a sustained decline with a target of $104,300 and eventually dropping to $103,600,” the analyst said.
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