Will Bitcoin Hold the Line? Analysts Highlight the Most Critical Support Levels

Bitcoin (BTC) is facing a pivotal test after a sharp reversal from its recent ￰0￱ number one cryptocurrency’s slide below $110,000 has market observers closely monitoring a crucial band of support, with the integrity of the current bull cycle potentially hanging in the ￰1￱ Support Zones Form the Bull Market’s Last Stand According to analyst Axel Adler Jr., the market is now testing a primary defensive ￰2￱ a post on X, he stated, “The nearest strong support zone is the 100K–107K range.” His thesis identified this area as critical because it marks where two metrics historically significant for establishing market floors, the Short-Term Holder Realized Price and the 200-day Simple Moving Average, have ￰3￱ further defined a secondary, more profound support level around the $92,000 to $93,000 level, which represents the cost basis for investors who have held coins for three to six ￰4￱ tier, he argues, would become the final defensive line should the first one be ￰5￱ analyst’s framework has come at a time when the market is reeling from a major ￰6￱ sell-off was accelerated by a single entity dumping 24,000 BTC, worth more than $2.7 billion, triggering a cascade that sent Bitcoin to a seven-week low under $109,000.

Additionally, the resulting liquidation flush wiped out nearly $1 billion in leveraged long positions, a brutal but effective reset that purged speculative excess from the ￰7￱ price action caused BTC to break below the average cost basis of investors who bought during the May to July rally, a level that analytics platform Glassnode cautioned has previously preceded “multi-month market weakness.” Market Structure Hinges on a Handful of Key Levels The broader analyst community is largely singing from the same hymn book with regard to the importance of these levels , even though perspectives on the outcome ￰8￱ instance, EGRAG CRYPTO’s analysis , shared hours before Adler’s, also centered on $105,000 as a decisive figure.

However, he outlined two potential scenarios, one being a deeper retracement to $92,000 and the other a successful hold leading to a parabolic ￰9￱ the time of writing, Bitcoin was trading around $110,317, down more than 11% from its August 14 all-time high above $124,000. It has also shaved 4.4% from its value over the week, nudged by a slight 0.9% dip in the last 24 ￰10￱ the near-term momentum being in the red, the longer-term perspective offers some ￰11￱ 30 days, the asset has gained 6.5% and it has stayed 73.2% above its price from a year ago, giving hope that the current pullback is still within the boundaries of a healthy correction in a larger bull trend.