Key Takeaways:
Bitcoin trades around $110,800, slipping nearly 2% on the day.
Analysts flag $110K as critical support, though a breach could signal a deeper move toward $100K.
Gold continues outperforming both crypto and equities as investors favor safety.
BTC Price Falters Below $111K Support
Bitcoin (BTC) retraced to approximately $110,800, losing close to 2% throughout the session. Attempts to break through the $112K resistance were thwarted again, pushing price back into its key support zone.
Crypto analyst BitBull emphasized that until BTC regains footing above $114K on the daily chart, bullish momentum remains fragile. A fall below this threshold heightens the risk of a deeper correction.
$110K Support Holds—for Now
Despite the pullback, some market watchers see comfort in the $110K level—a high-volume area acting as a temporary floor. Swissblock noted that a straight dive to $100K isn’t the base case, but BTC still needs fresh upside momentum to clear resistance zones between $113.6K–$115.6K and ultimately break into the $118K+ range.
Gold’s Safe-Haven Appeal Grows
Macro dynamics continue to weigh on crypto. Although weakening labor market signals hint at possible Fed rate cuts, inflationary pressures may limit easing to a single move.
Meanwhile, gold is outperforming crypto and stocks, viewed as the preferred global safe-haven. Financial strategists highlight rising inflation concerns and debt supply as key tailwinds behind this trend.
Rally or Retest?
Bitcoin sits at a pivotal juncture:
Holding $110K could enable bulls to mount another attempt at breaking resistance.
A failure to do so risks a deeper pullback toward $105K–$100K.
Volatility is expected to remain elevated—watch for price action around this psychologically important support, according to Cointelegraph.
