Bitcoin price drop: BTC is in a corrective phase, trading near $108K with bearish momentum and a possible bottom around $103K, per analyst Michaël van de Poppe. Increased volume and institutional accumulation contrast profit-taking by large holders, while a break above $112K is needed to resume bullish momentum.
Bitcoin price drop confirmed by bearish technicals and recent rejection at $112,000.
Analyst Michaël van de Poppe cites $103,000 as a potential short-term bottom for BTC.
Trading volume rose ~11.37% to $72.66B; institutions added 638,617 BTC year-to-date (plain text: VanEck data).
Bitcoin price drop: BTC nears a potential $103,000 bottom as analysts warn of continued correction; institutional demand offers a tempered silver lining.
What is driving the Bitcoin price drop?
Bitcoin price drop is driven by short-term bearish momentum, seller dominance near $112,000, and profit-taking by large holders. Technical signals show rejection at resistance, while elevated trading volume and institutional accumulation create a mixed market picture.
How low could Bitcoin fall — is $103K realistic?
Analyst Michaël van de Poppe believes a corrective phase could push BTC toward $103,000, calling that level a likely short-term bottom. Current price action shows weakness: BTC slipped from an intraday peak of $111,420.48 into the $108,000 range, and resistance at $112,000 must be reclaimed to end the pullback.
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Institutional accumulation provides a structural floor over longer windows, but it does not prevent short-term technical corrections. VanEck data (plain text) shows 638,617 BTC added year-to-date, far exceeding the 2024 total of 120,290 BTC, yet profit-taking by large wallets—reported $4 billion in realized gains in 48 hours—can still create downward pressure.
Rising volume alongside price declines signals active distribution rather than healthy buy-the-dip behavior. A substantial whale realizing $4 billion in profits is a classic headwind for short-term rebounds. Traders should watch order-book liquidity near $103K–$112K and monitor whether institutions continue accumulation at these levels.
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Source: https://en.coinotag.com/bitcoin-could-bottom-near-103k-as-analyst-notes-continued-weakness-while-institutional-demand-may-provide-support/