Bitcoin Price Crashes to $103K — Is This the Bull Trap Everyone Feared?

Jakarta, Pintu News – Bitcoin (BTC) reached a weekly high of $110,653 on Monday, but has now declined by 4.15% and touched a low of $103,600 today.

Rising tensions between Iran and Israel – with reports that Israel may be preparing for military action against Iran – have fueled risk-off sentiment, and Bitcoin has reacted accordingly.

Bitcoin Price Drops 4.15% in 24 Hours

As of June 13, 2025, Bitcoin was trading at $103,371, equivalent to IDR 1,690,367,720 — marking a 4.15% drop over the past 24 hours. Within that time frame, BTC reached a high of IDR 1,763,550,957 and dipped to a low of IDR 1,675,302,381.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.06 trillion, with trading volume in the last 24 hours rising 32% to $67.32 billion.

Read also: 3 Cryptos to Buy After US CPI Data Slows and Inflation is Under Control!

Technically Reasonable Correction

From a technical point of view, the current correction is considered normal. The price of BTC previously rose by about 10% from June 6 to Tuesday, so the 3.5% drop is considered part of a routine movement.

Bitcoin researcher, Axel Adler Jr, echoed similar sentiments and said the market is currently at a “soft reversal point”.

Using a chart of Bitcoin futures position dominance, Adler Jr. explained that the price drop likely occurred due to longs taking profits at the resistance area, which was reinforced by aggressive short volume.

He said:

“This is a classic example of a ‘soft reversal point’ after an uptrend: as long as funding remains positive but open interest declines, we can expect a short-term correction or consolidation below $108K.”

Although the consolidation around $108,000 does not necessarily break the bullish momentum, fractal analysis suggests the possibility of a deeper decline ahead.

Is Bitcoin Trapped in a Bull Trap?

According to Cointelegraph (13/6), Bitcoin’s recent rally from $100,500 to reach $110,000 shows a similar pattern to the movement in January 2025, when the price of BTC bounced from $91,700 to $102,700.

Read also: Top 5 Altcoins Worth Buying When Ethereum (ETH) Surges, According to Crypto Analysts!

Current observations reveal an interesting but potentially bearish fractal pattern. A fractal pattern is a repeating trend that can produce similar price action due to identical market conditions.

In the analyzed chart, this pattern consists of three main signals:

• BTC price broke out of the descending trendline pattern after absorbing 3-4 weeks of trailing liquidity, then formed a bullish break of structure on the daily chart.
• BTC failed to break the previous high, which in both cases was an all-time high.
• The relative strength index (RSI) fell below the 50 level before recovering, but then rejected at the 60 level.

If this fractal pattern is valid, Bitcoin could experience a sharp rejection and drop to around $100,000, where there is a strong support zone based on the liquidity area on the chart.

To confirm this pattern, BTC prices need to continue to fall and break Monday’s low of around $105,000.

This has raised concerns that Bitcoin may be in a bull trap – a situation where a price rally deceives investors before a big drop.

However, this pattern will be invalidated if Bitcoin manages to return and hold above $108,000, as this will negate the “failed high” signal and indicate a continuation of the bullish trend.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cointelegraph. Bitcoin price fractal points to bull trap that could send BTC below $100K. Accessed on June 13, 2025