The cryptocurrency market experienced a bearish trend this week, according to CoinStats data, with Bitcoin (BTC) declining by 2.55% over the past day. A false breakout of local support on the hourly chart has been observed, but if sellers continue to exert pressure and the candle closes near $109,620, a potential drop towards $109,000 could occur. On longer timeframes, the Bitcoin price is breaking through the $109,823 support level. If this bar closes below that point, accumulated energy may trigger a further decline to the $105,000 area. Meanwhile, from a mid-term perspective, no reversal signals have been identified yet. If bulls fail to hold the interim zone of $110,000, they could face a test of the $100,000-$105,000 range in the near future. At press time, Bitcoin is trading at $109,254.