BTC’s extended drop below $105,000 strengthens bearish momentum, with traders eyeing $101,200 as critical support and multiple downside targets in the near term.
Bitcoin continued its decline after failing to break above $105,500, dropping below $105,000 and the 100-hour SMA. Key hourly resistance stands at $103,250 and $103,500, with major support at $101,200, then $100,500 and $100,000. A fall below $101,200 could lead toward $98,800 or $96,500. This follows an earlier rejection at $107,250 that reinforced bearish sentiment and the looming death cross pattern. Analysts note historical false signals with death crosses but warn pressure remains on $100K support. Zcash adoption in 2025 accelerated, overtaking Monero in market share, while Bitcoin Cash broke over $520 resistance, targeting $530.