Bitcoin Dips 5% to Key Technical Support at $100,700
Bitcoin has pulled back exactly 5% from its recent highs to retest a key technical level, landing at the 50% Fibonacci retracement zone around $100,699, according to a chart shared by analyst.
The price correction comes after BTC rallied nearly 10% in just over 36 hours, topping out at $106,423 before reversing course.
This move highlights the ongoing technical significance of Fibonacci levels among traders, as Bitcoin pauses at a potential support zone after its surge.
The current pullback aligns with typical market behavior following rapid climbs, and could be seen as a healthy correction. Traders will now be closely watching whether Bitcoin holds this $100,699 level—or if further downside tests lie ahead.
This retest also comes amid broader volatility in the crypto market and heightened sensitivity to macroeconomic and regulatory developments.
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