Bitcoin’s price slipped to $115,449 on Thursday, extending a 24-hour decline of more than 2% and putting traders on edge as the asset hovers near critical support levels.
The drop follows weeks of choppy movement that now has analysts debating whether the next decisive move will trigger a new all-time high—or a deeper correction.
Market analyst Michaël van de Poppe noted that Bitcoin has cleared liquidity on the downside, with the $116,800 zone now acting as a pivotal test. He suggested that whether the price reclaims this range or rejects it will set the tone for the coming weeks. A successful breakout, he argued, could pave the way for fresh record highs.
Others, however, are less optimistic. Analyst Ali pointed out that Bitcoin has already lost the crucial $116,950 support, highlighting $107,000 as the next major level to watch.
Data from Glassnode’s UTXO Realized Price Distribution reinforces this view, showing significant trading activity around the $107,000 area, which could act as the next point of stability if downward pressure persists.
Despite the recent turbulence, Bitcoin remains supported by strong trading volumes, with over $89 billion exchanged in the past 24 hours. Still, investor sentiment appears fragile, with the battle between bullish breakout hopes and bearish downside risks intensifying as the market enters a critical phase.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/bitcoins-next-move-surge-to-new-record-high-or-crash/