FameEX Hot Topics | BTC Eyes Sub-$100K Zone, Traders Anticipate Bigger Correction Ahead

Bitcoin is currently hovering near the $105,000 mark, facing headwinds as bullish momentum begins to wane. After failing to hold above resistance at $106,000, BTC/USD has begun to retrace, with traders now turning their attention to the psychologically significant $100,000 support level. Despite managing to remain above this threshold for more than three weeks following its breakout on May 8, Bitcoin has yet to confirm $100,000 as firm support through a meaningful retest. As a result, sentiment in the market has turned cautious, particularly with the asset still trading about 6% below its all-time high of $111,900.

Technical analysts continue to emphasize the critical nature of the $100,000 level. Michael van de Poppe, founder of MN Capital, highlighted that Bitcoin was hovering around $104,300 and could face additional downside before recovering. He pointed to the importance of the $100,000 level on shorter timeframes, particularly the four-hour chart. CrypNuevo, another widely followed analyst, noted that Bitcoin’s failure to convert $106,000 into support could increase the likelihood of a drop to $100,000, potentially aligning with the 150-day exponential moving average (EMA) as a secondary support level.

Some traders are even bracing for a more extended correction. Analyst AlphaBTC cautioned that if Bitcoin loses the $100,000 support zone, it could trigger a deeper pullback, possibly toward $90,000. He added that Bitcoin may continue moving sideways through the first half of June as investors await clearer signals from macroeconomic events—most notably, the Federal Open Market Committee (FOMC) meeting scheduled for June 18. However, some on-chain indicators, such as Glassnode’s market value to realized value (MVRV) bands, still suggest that $100,000 could remain a structurally sound support level for now.

Liquidity patterns in the market support the idea that $100,000 remains a pivotal price point. CrypNuevo observed that liquidity tends to cluster around major psychological levels, with numerous bid orders accumulating just below $100,000. CoinGlass data echoed this view, revealing strong bid interest between the spot price and the $100,000 mark, particularly around $105,000—an indication that traders are bracing for potential volatility.

Deeper below, liquidity continues to build near $93,200, with nearly $170 million in orders resting there. To the upside, resistance is forming between $112,500 and $113,500. AlphaBTC noted that liquidity is stacked on both ends, suggesting a potential shakeout before Bitcoin’s next decisive move.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.