Bitcoin’s price has dropped below the 100-day simple moving average for the first time since April, reflecting a bearish technical outlook. It registered a low of 109,172 USD, marking a decline of over 1%.
Key resistance levels for Bitcoin are set at 111,592 USD and 117,416 USD, while significant support is found near 105,390 USD and 100,928 USD. The bears are pushing Bitcoin into a precarious position.
In contrast, XRP remains above its 100-day SMA, while Ether and Solana also hold above their respective averages, indicating a potential stability against Bitcoin’s downward movement.
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