Bitcoin News Today: Bitcoin Faces $100,000 Drop or $122,000 Rally as Analysts Outline Key Price Scenarios

Cryptocurrency analyst Mark Cullen has outlined a potential path for Bitcoin, forecasting two possible price scenarios: a decline to $100,000 or a rally toward $122,000, near its current all-time high of $123,000. His analysis, shared on X, suggests that Bitcoin is currently navigating a key range between previous weekly price levels, with the next significant movement depending on how the price breaks out or breaks down from this range [1].

According to Cullen, a break above $116,000 and a sustained position above the previous range’s low could signal the start of a bullish momentum, potentially pushing BTC toward $122,000 and beyond to new highs later this month. His chart illustrates that the initial target before a broader breakout would be around $122,000 [1]. On the flip side, if Bitcoin fails to hold above the recent support level of around $111,000 and does not reclaim $112,000, the analyst warns that a drop to $100,000 is likely [1].

Another prominent figure in the crypto space, BitMEX co-founder Arthur Hayes, has echoed this bearish potential. Hayes predicts that Bitcoin may retest the $100,000 level while Ethereum retests $3,000. He attributes this possibility to factors such as rising tariffs and the lack of available liquidity in the market, which currently restricts price increases [1]. The last time Bitcoin traded at $100,000 was near the end of June, before it surged to a new high in July.

Meanwhile, analyst Ali Martinez has introduced a more bearish outlook, suggesting that Bitcoin could decline further to as low as $95,000. His reasoning is based on historical patterns where the weekly RSI dropped below the 14 SMA, triggering a 20–30% correction. If history repeats, BTC could face a similar pullback [1].

The $112,000 level remains a critical price point, described by the Titan of Crypto as the "line in the sand" for Bitcoin. This level is significant as it continues to resist the bearish Fair Value Gap (FVG) forming around $114,000 [1]. As of the latest data, Bitcoin was trading at approximately $114,000, down in the past 24 hours, according to CoinMarketCap [1].

Source: [1] Bitcoin Price Crash To $100,000 Or Rally To $122,000? Analyst Shows Game Plan For BTC (https://www.newsbtc.com/bitcoin-news/bitcoin-to-100000-or-122000/)