Bitcoin, Signs of Bullish Slowdown… Possibility of Falling Below 100,000 Dollars Emerging

Bitcoin is capturing signs of momentum slowdown on on-chain indicators, raising the possibility of falling below $100,000.

Crypto analysis platform CryptoQuant mentioned in an interview with Cointelegraph, "Some Bitcoin demand indicators seem to have reached a short-term peak." Especially noting that whale holdings increased by about 2.8% over the past month, it analyzed, "This number is a pattern similar to before the whale accumulation trend slowed."

Another cryptocurrency analyst, Max, explained from a technical perspective, "If BTC closes below the horizontal support and resistance line of $104,800 weekly, there is a possibility of a reverse head and shoulders pattern appearing." This is interpreted as a signal that a reversal to an upward trend may occur after an additional adjustment phase is carried out.

Amid signs of a slowdown in buying pressure despite the recent bull market, the $100,000 support line is becoming a key variable in short-term investor sentiment.