#BTC Based on the latest market data and analysis from June 23, 2025, Bitcoin (BTC) is showing signs of potential further downside, though key support levels are currently holding. Here’s a detailed breakdown of the factors influencing BTC’s price moveme
### 1. **Current Price and Support Levels**
- Bitcoin is trading near **$101,200**, having defended the **$100,000** support level over the weekend .
- A breakdown below **$100,000** could trigger a drop toward **$96,000**, the next major support zone .
### 2. **Technical Indicators Suggest Weakness**
- **Bearish EMA Cluster**: BTC is trading below all major EMAs (20/50/100/200) on daily charts, forming a bearish alignment that signals weakening momentum .
- **RSI Slip**: The Relative Strength Index (RSI) is declining, indicating loss of bullish momentum and potential for further downside .
- **Volatility Spike**: Recent liquidations of **$450 million** (mostly long positions) highlight heightened market fragility .
### 3. **Market Sentiment and Macro Factors**
- **Options Expiry Pressure**: The approaching June 27 options expiry is adding tension, with bears actively defending the **$105,000** resistance zone .
- **Institutional Activity**: While institutional inflows into Bitcoin ETFs remain strong, retail sentiment is cautious, contributing to sideways trading .
- **Geopolitical Risks**: Escalating Middle East tensions and macroeconomic uncertainty (e.g., Fed rate decisions) are weighing on short-term confidence .
### 4. **Historical Precedents**
- Bitcoin has faced repeated rejections near **$106,000** this month, failing three times to break higher .
- Past volatility bursts (e.g., the June 20 plunge below **$103K**) have led to rapid liquidations, reinforcing the risk of sudden drops .
### 5. **Key Levels to Watch**
- **Upside**: A reclaim of **$105,200** (trendline resistance) could invalidate the bearish outlook .
- **Downside**: A close below **$100,000** may accelerate selling toward **$96,000** or lower, especially if accompanied by high liquidation volume
