The CryptoQuant platform analyst noted an important support level for $BTC $105,511.21, which currently stands at $ 96,700. Whether a new bounce will begin or the asset will enter a phase of further decline may depend on this level.

Investors are currently showing cautious behavior. This indicates a lack of panic or excessive optimism, which often precedes a trend change. CryptoQuant notes that this creates conditions for potential Bitcoin growth if the important support level is maintained.

There are two basic scenarios: if the price remains above $ 103,000−105,000, a move to $ 115,000 is possible; if it falls below $ 103,000, a correction to $ 93,000−97,000 is possible. As of today, Bitcoin is trading at around $ 105,315.

Another point noted by CryptoQuant is the increase in Bitcoin's dominance in the market. This may indicate a liquidity outflow from altcoins, particularly $ETH $2,638.07, despite significant growth of this cryptocurrency in May (Ethereum — up by 40.84%, Bitcoin — up by 10.99%).

In conclusion, experts advise against rushing to open new positions. They recommend waiting for the correction to finish to avoid the risk of premature market entry.