Bitcoin News Today: Bitcoin's Technical Crossroads: Will $100K Be the Next Stop?

Bitcoin appears to be approaching a critical juncture as it faces potential losses of $100,000 following the completion of a bearish pattern. Market analysts are closely monitoring key support levels and technical indicators to assess whether the downward trend might intensify. On Monday, Bitcoin fell below the 50-day simple moving average at $115,702 and is currently finding support at the neckline of an inverse head-and-shoulders pattern [1]. A break below this level could push the price toward $110,530, with further declines possible to $105,000 and eventually $100,000 [1].

Technical indicators are raising concerns about the strength of Bitcoin’s recent momentum. A negative divergence has appeared on the relative strength index (RSI), signaling weakening bullish energy [1]. Captain Faibik, a well-known analyst, suggested in a post on X that an “extreme bearish flush” could send Bitcoin into the $98,000–$100,000 psychological range [1]. Despite these bearish signs, some analysts remain cautiously optimistic. Steven McClurg, CEO of Canary Capital, stated in a CNBC interview that there is more than a 50% chance of Bitcoin reaching $140,000 to $150,000 by the end of the year before potentially entering a bear market in 2025 [1].

Retail investors have shown strong bullish sentiment toward Bitcoin in recent months, but this enthusiasm has not extended to Ether (ETH), according to data from sentiment platform Santiment [1]. The contrasting sentiment between BTC and ETH has led analysts to believe that Ether could potentially follow a more bullish trajectory. However, ETH is currently facing its own challenges, having broken below the $4,368 support level. If it fails to hold above $4,094, a deeper correction could be on the horizon [1].

The broader market environment has been favorably tilted toward risk-on assets, with Bitcoin joining global stocks in reaching record highs as the prospect of U.S. interest rate cuts enhances risk sentiment [2]. Cryptocurrency markets have also benefited from a more favorable regulatory landscape and increased institutional inflows [2]. Meanwhile, Ether has gained 42% this year, outpacing Bitcoin’s 32% gain, and is currently trading near its highest level since November 2021 [2].

Investors are now turning their attention to the Federal Reserve’s potential rate-cutting path, with traders increasingly pricing in the possibility of a 50-basis-point cut later this year. Treasury Secretary Scott Bessent has suggested that the Fed may be compelled to take aggressive action in response to recent economic data [2]. Additionally, the yen has strengthened to its highest level in three weeks amid expectations of higher interest rates from the Bank of Japan [2]. European markets are also poised to receive new data on Thursday, including Eurozone and UK preliminary GDP figures, which could provide further insight into economic resilience amid global trade uncertainties [2].

Overall, while Bitcoin faces immediate technical headwinds and risks losing critical support levels, long-term projections remain mixed. Market participants will be closely watching for signs of a potential rebound above key resistance levels, as well as developments from central banks and macroeconomic data that could influence risk appetite and asset valuations in the near term.

Source:

[1] Price Predictions 8-18 SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK (https://cointelegraph.com/news/price-predictions-8-18-spx-dxy-btc-eth-xrp-bnb-sol-doge-ada-link)

[2] Morning Bid: Bitcoin joins the risk-on party (https://www.reuters.com/world/china/global-markets-view-europe-2025-08-14/)