Bitcoin’s Bottom Line Nears: 3% Drop Towards Key Support

Recent price drops indicate Bitcoin may be nearing a crucial turning point as it approaches a key market support zone. With prices falling over the past week, bringing them down to around $103,826 after a 3.53% decline in the last 24 hours, the asset has breached the lower Bollinger Band for the first time since March, signaling possible short-term selling pressure. This is raising questions about whether a major bottom may form near the $100,000 to $102,000 range that aligns with the 200-day EMA. 3% below this level marks a key threshold for potential price reversal.