When that\u2019s the case, it signals strong U.S. demand for Bitcoin. But when it turns negative, as JA_Maartun mentioned, it signals U.S. traders are selling or demand for BTC has weakened.<\/p>\n
He said he\u2019s watching the $103,000 level because it\u2019s roughly 10% lower than the short-term holders realized price, and an indicator he said has acted as key support throughout the 2025 bull run.<\/p>\n
\u201cIf price reaches this area, it will be an important level to monitor,\u201d he said.<\/p>\n
Source: JA_Maartun <\/p>\n
Users on Myriad, a prediction market owned by\u00a0Decrypt parent company DASTAN, think Bitcoin is more likely to sink to $100,000 before it reclaims $120,000<\/a>. As of Friday morning, 65.8% of users think it’ll fall to the lower level before rebounding.<\/p>\n “Now that Bitcoin has broken the recent $110K-$108K consolidation range to the downside, we are watching $100K as the next support level,” Julio Morena, head of research at CryptoQuant, told Decrypt. “This level represents the traders\u2019 on-chain realized price lower band, which has acted as the last price support during this bull cycle.”<\/p>\n He added that Bitcoin staying above $100,000\u2014and in the six-figure range\u2014marks “an important psychological support level.”<\/p>\n Bitcoin Falls as Short Sellers Pile In, Even as Spot Buyers Step Up<\/a><\/p>\n For now, though, there are signs that trade tensions are starting to ease.<\/p>\n \u201cIt\u2019s not sustainable,\u201d Trump said during an interview with Fox Business, referring to the 100% tariff rate he proposed on China last week. \u201cBut that\u2019s what the number is, it\u2019s probably not, you know, it could stand, but they forced me to do that.\u201d<\/p>\n Trump confirmed during the interview that he plans to meet with Chinese President Xi Jinping in South Korea later this month.<\/p>\n The tariffs rate he proposed last week led to the liquidation of more than $19 billion worth of crypto contracts. But even as trade trouble fades, there\u2019s growing concern over credit risk among U.S. regional banks.<\/p>\n JP Morgan CEO Jamie Dimon hinted during an earnings call this week that the bankruptcies of two auto firms\u2014and hundreds of millions of dollars’ worth of bad loans tied to them\u2014is an indicator that there\u2019ll be more failures.<\/p>\n \u201cI probably shouldn\u2019t say this, but when you see one cockroach, there are probably more,\u201d he said on Tuesday<\/a>.<\/p>\n The resulting unease among traders has painted equities and crypto markets red. Major stock market indices opened the day in the red, with the Nasdaq still down as of this writing, and the global crypto market capitalization has contracted, falling 2.8% to $3.66 trillion as of Friday morning.<\/p>\n