Bitcoin Dropped Under $104,000 — Key Levels to Watch Out For
Bitcoin has taken a sharp hit, falling below the $104,000 mark, reaching $103,160 in a swift downturn that erased gains from earlier this week.
At the time of writing, BTC is trading at $104,360, reflecting a 3.10% decline over the past 24 hours and a market cap drop to $2.07 trillion.
Price Breakdown and Volume Spike
Despite the decline, 24-hour trading volume has surged by 28.47%, reaching $67.97 billion, indicating aggressive activity—likely driven by liquidations and high-frequency trading as the price broke below support.
Key Levels to Watch (7-Day Chart)
A review of Bitcoin’s 7-day price chart highlights several critical technical zones:
$110,000: This remains the primary resistance level, where BTC topped out on June 11 before facing strong selling pressure. A confirmed breakout above this zone would signal renewed bullish momentum.
$106,000: Previously a short-term support floor, this level failed to hold during the recent drop. Reclaiming it could indicate a recovery attempt.
$104,000: Now a psychological and technical support level. BTC briefly dipped below it but is attempting to stabilize just above this range.
$102,000–103,000: This is the next crucial downside zone to monitor. A sustained move below this range could trigger additional liquidations and extend the selloff.
Short-Term Outlook
The sharp decline follows a failed breakout attempt near $110,000 and coincides with broader market volatility, including increased liquidations across major exchanges. If BTC fails to reclaim the $106,000 level soon, further downside testing could occur, especially if volume begins to decline after the spike.
However, bulls may find an opportunity to re-enter if BTC holds the $104,000 region and consolidates with rising support.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
