Drastic Drop in Bitcoin (BTC) Price: Is This the Beginning of the Crypto Market Crash?

Jakarta, Pintu News – Bitcoin (BTC) recently experienced a significant price drop, failing to maintain support at the $110,000 level and entering a bearish zone. This drop comes after Bitcoin (BTC) fell below $109,000 and $108,800, signaling a deeper decline. This is compounded by the formation of a bearish trend line on the hourly chart of the Bitcoin (BTC)/USD pair, with resistance at $109,400.

Currently, Bitcoin (BTC) is trading below $108,000 and the 100-hour simple moving average. A test of the 1,236 Fib extension level of the upward move from $106,310 to $111,000 shows that the selling pressure is still very strong. This situation raises concerns of a potential further decline in the near term.

Technical Analysis: Indicators Show Downside Potential

Technical indicators are currently showing an unfavorable picture for Bitcoin (BTC). The hourly MACD (Moving Average Convergence Divergence) is now fast moving in the bearish zone, signaling that the downward momentum is still continuing. The RSI (Relative Strength Index) for the Bitcoin (BTC)/USD pair is also below the 50 level, indicating the dominance of sellers in the market.

If Bitcoin (BTC) is unable to break the $108,800 resistance zone, there is a possibility that the cryptocurrency will continue to decline. Immediate support lies near the $106,200 level, with the next major support at $105,500. If the decline continues, Bitcoin (BTC) may look for support at the $105,000 zone and potentially drop further to $104,200 in the near future.

Also Read: 5 Reasons Why Analysts Think November Could Be the Most Bullish Month for XRP (XRP)

Short-term Outlook: What Can Be Expected?

The short-term outlook for Bitcoin (BTC) seems bleak if there is no significant change in market dynamics. Critical support is at $103,500, below this, Bitcoin (BTC) may have a hard time recovering in the short term. This decline not only affects Bitcoin (BTC) but also has the potential to affect the crypto market as a whole.

The market needs to closely watch whether there will be a change in investor sentiment or intervention from big players in the market that could reverse the current trend. In the absence of such factors, the market will probably continue to see a decline in the value of Bitcoin (BTC) and other cryptos.

Conclusion: The Future of Bitcoin (BTC) and the Crypto Market

Current conditions in the Bitcoin (BTC) market suggest that investors need to prepare for the worst possible scenario. With various technical indicators pointing to a bearish trend, it is important for market participants to consider their strategies carefully. The future of Bitcoin (BTC) and the crypto market as a whole may depend on how investors respond to the current market conditions.

Whether this will be a turning point for Bitcoin (BTC) or just a temporary roadblock, time will tell. However, one thing is for sure, crypto market volatility is still a major factor that all investors and market watchers should be aware of.

Also Read: Can You Live Only on Crypto? Here are 3 Sources of Income & Challenges You Need to Know About

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*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 are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Sell-Off Continues, $109K Next? Accessed on November 5, 2025