Crypto traders believe Bitcoin must reclaim the $106,000 level — a 13% jump — to confirm further upside. Trader Pentoshi stated that reaching $106,000 could lead to a new round of price discovery.
However, if Bitcoin falls below its $92,000-$94,000 support range, the next key support could be around $85,000. Some analysts remain bullish, with Pentoshi stating that the current range could still result in upward movement. Yet, others think a dip to $85,000 or even $70,000–$75,000 is possible before Bitcoin regains momentum.
As of publication, Bitcoin is trading at $96,340. Some analysts suggest the next few weeks will be crucial in determining its direction.