$BTC

Despite Bitcoin trading near $104K, some bearish analysts remain cautious. They argue that the sharp rejection from $112K signals weakening momentum, and the $103K support is under pressure. If this level fails, BTC could retrace to $97K or even $93K. Rising U.S. debt, potential regulatory crackdowns, and global economic uncertainty may limit upside potential. Low trading volume and declining retail interest also raise red flags. Bears suggest recent gains were largely ETF-driven hype, and without fresh catalysts, BTC might enter a prolonged consolidation or correction phase. While not ruling out recovery, they believe downside risk currently outweighs short-term bullish hopes.