Recent analysis from CryptoOnChain suggests that Bitcoin (BTC) faces a risk of deeper correction if it fails to maintain the critical $101,000 support level. While recent volatility has seen BTC’s price drop towards the lower bound of its trading range around this level, strong buying pressure has helped stabilize the price at this key mark. This level acts as the lower boundary of a long-term ascending channel established since October 2023, crucial for maintaining the current uptrend. If Bitcoin can hold $101,000, it suggests a temporary correction and likely a resumption of the upward momentum. However, failure to defend this level could signal a broader market shift, leading to a deeper correction. Understanding technical indicators like support levels is essential for traders and investors. This potential correction also highlights how Bitcoin’s price action is influenced by factors beyond just trading activity, such as macroeconomic indicators, institutional interest in ETFs, and on-chain data.** This analysis offers insights into the current market dynamics and the critical role of the $101,000 level.