Headline: Bitcoin slips below $100K, marking lowest level since May
Introduction: Bitcoin extended its decline today, slicing through the psychological $100,000 threshold as risk-off sentiment weighed on digital assets. The BTC price touched an intraday low near $98,081—its weakest level since May 8—leaving traders focused on key support zones and near-term technical signals.
Bitcoin fell more than 3% (roughly $3,000) on the session, undercutting the June 22 trough at $98,240 and erasing a layer of short-term support. The move below a major round number reinforces bearish momentum in the cryptocurrency market, with participants watching whether buyers can stabilize the upper-$90,000 range or cede ground to lower levels.
From a technical analysis perspective, the next downside objective sits around $96,975. That area aligns with the 38.2% Fibonacci retracement of the advance from the August 2024 swing low to the early October 2025 high. A sustained break beneath $96,975 could open the door to deeper retracements, while a recovery back above $100,000 would shift attention to reclaimed resistance and potential relief rallies. For now, broader risk-off flows and thin liquidity around round numbers are amplifying volatility for BTC.
Key Points: – Bitcoin price dropped over 3%, hitting an intraday low near $98,081, the weakest since May 8. – BTC fell below the psychological $100,000 level and undercut the June 22 low at $98,240. – Next key support/target is around $96,975, near the 38.2% Fibonacci retracement. – Risk-off sentiment is pressuring cryptocurrencies, increasing volatility. – A rebound above $100,000 could ease downside pressure; failure may invite deeper pullbacks.
