$BTC Bitcoin has experienced a notable downturn today, currently trading around $103,500 after a dip from highs near $106,000. This movement marks a decrease of approximately 0.94% over the past 24 hours. The decline follows a rejection from the $106,000 resistance level, prompting sell-offs.

Analysts are eyeing key support levels, with $100,800 being a crucial immediate test. Further downside could see BTC drop to $97,600 or even $92,800. The recent price action has also triggered a cascade of long liquidations on exchanges like Binance, indicating aggressive selling outweighed buying. This bearish sentiment is also reflected in the Net Taker Volume moving significantly into negative territory.