Bitcoin Price Prediction: The Key Onchain Support Levels Bulls Must Defend to Avoid $60,000

Bitcoin is under pressure after sliding from highs near $115,000 to around $109,300, raising concerns that bulls could lose their ￰0￱ key support levels give way, analysts warn the price could retreat sharply, with $60,000 emerging as the critical long-term line in the ￰1￱ Levels Traders Are Watching The first major support sits near $111,400, where many recent buyers entered the ￰2￱ above this level keeps their positions in profit and confidence intact. A sustained drop below it, however, could trigger renewed selling pressure. A broader demand zone lies between $104,000 and $108,000. This is where large volumes of Bitcoin changed hands, forming what analysts call a “make or break” ￰3￱ Bitcoin stays above this band, recovery attempts remain on the table.

A clean break lower, by contrast, would leave the door open to deeper declines — with $102,800, $105,200, and $107,300 marking short-term supports before $60,000 comes back into ￰4￱ short-term support: $107,300 Critical zone: $104,000–$108,000 Long-term floor: $60,000 Macro and Institutional Drivers Market sentiment has also been shaped by macro ￰5￱ Chair Jerome Powell recently emphasized that the central bank won’t rush into rate cuts, keeping investors ￰6￱ comments dampened appetite for risk assets, dragging Bitcoin back under $110,000. Bitcoin has dipped below $113,000 following the Fed’s “risk-management” rate cut, which suggested further easing depends heavily on economic ￰7￱ had priced in aggressive cuts; mixed inflation and labor data are now causing uncertainty and ￰8￱ — Cryptic (@Cryptic_Web3) September 23, 2025 At the same time, BlackRock provided a ￰9￱ asset manager purchased over 700 BTC (worth about $77 million) via Coinbase Prime, even as traders braced for volatility tied to the expiry of $17 billion in Bitcoin ￰10￱ move underlined institutional conviction despite retail hesitation.

BREAKING: BLACKROCK JUST BOUGHT $79.7M IN ￰11￱ — Conor Kenny (@conorfkenny) September 26, 2025 BlackRock is also pushing new ￰12￱ its $87 billion IBIT, the firm has filed for a Bitcoin Premium Income ETF, designed to generate yield through covered call ￰13￱ view this as a step to attract income-seeking investors and strengthen Bitcoin’s long-term ￰14￱ (BTC/USD) Technical Outlook: Bears Still in Control From a charting perspective, Bitcoin remains trapped under a descending trendline from ￰15￱ 50- and 100-period SMAs around $113,000–$113,500 are reinforcing resistance, highlighting a bearish crossover ￰16￱ candlestick activity reflects indecision.

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