$BTC Bitcoin is currently trading around 103895 dollars experiencing a 4 percent decline in the past 24 hours Analysts warn that BTC has broken below key support levels exiting its previous ascending channel If 103132 dollars fails to hold Bitcoin could slip toward 101705 dollars or even test the psychological 100000 dollar level Veteran trader Peter Brandt has cautioned that BTC could face a 75 percent correction potentially dropping to 27290 dollars citing similarities to the 2022 bear market However institutional demand remains strong with US Bitcoin ETFs seeing 164.57 million dollars in net inflows Short term forecasts suggest BTC may test 105425 dollars before attempting a rebound If Bitcoin manages to reclaim 106058 dollars it could push toward its all time high of 111980 dollars Traders are closely watching macroeconomic factors and geopolitical tensions including the Israel Iran conflict which has intensified risk off sentiment