Bitcoin has fallen 10% from its recent all-time high of $117,000, now hovering around $105,412. Traders and analysts are debating whether this is a temporary pullback or the start of a deeper correction. Some, like trader Roman, believe the bull market may be nearing its end due to diminishing returns seen in past cycles, suggesting Bitcoin could already be topping out. Key support zones include $105,000, with potential dips to $103,000–$104,000 or even $99,000, where long liquidations may occur. On a broader scale, technical indicators like the 111-day and 200-day SMAs ($92,100 and $94,700), along with the short-term holder cost basis at $95,900, are seen as major support levels. Glassnode notes that $BTC is still trading above all of them, suggesting overall bullish strength so long as these levels hold.