Analyzing Bitcoin's Price: Will BTC Fall Below the $100K Mark Following its Recent Decline?

Despite recently nearing its all-time high of $109K, Bitcoin's rally seems to have paused, hinting at a potential consolidation or corrective phase. After breaking the $100K resistance, Bitcoin's bullish momentum has entered a brief consolidation at the $109K resistance, indicating a possible retracement or sideways consolidation.

Signs of bearish divergence between the price and the RSI on the 4-hour timeframe also suggest a likely short-term correction or consolidation around the $100K mark. However, long-term holders appear to be accumulating Bitcoin, signaling confidence in higher prices and anticipation of new all-time highs. Consequently, the current consolidation phase is primarily driven by short-term holders and retail traders.

Bitcoin is expected to resume its bullish trend and potentially reach new all-time highs after this pause.