Bitcoin (BTCUSD) experienced a significant downturn this week, dropping 7.26% and breaking below the crucial $100,000 level for the first time in four months. This followed a bearish ‘death cross’ formation on the daily chart, causing intraday concerns about a potential market crash. However, Bitcoin managed to recover somewhat, with prices settling above $100,000 by Wednesday. The drop was attributed to large-scale liquidations of speculative futures positions across crypto markets, as well as a broader downturn in tech stocks following valuation fears on Wall Street. 14% year-to-date gains show Bitcoin remains positive overall despite the recent volatility. Technical analysis reveals key levels, with the 50% Fibonacci retracement of the April-October uptrend at $100,316 potentially serving as a support level. A break above the October monthly low of $102,300 could propel Bitcoin towards the next resistance at $106,416, followed by $107,300, acting as the floor of a three-month consolidation. However, the MACD remains weak, suggesting fragile investor sentiment. Should selling pressures intensify, Bitcoin could potentially decline toward the June 22 low of $98,100 with potential support at past lows from May and June (94,216 & 93,000). While these recent events suggest a market pause, Bitcoin continues to show resilience above the psychologically important $100,000 level. Investor sentiment remains fragile until Bitcoin breaches above $107,300 for a sustained upward trend in the broader crypto market.