BTC Struggles at $111,875 Amid Market Uncertainty
Bitcoin (BTC) has slipped below the $112,000 level, currently trading at $111,875, marking a 1.46% daily decline. This drop comes after the cryptocurrency faced repeated rejections from the $122,000–$124,000 resistance zone, where sellers have consistently stepped in over the past weeks.
The chart shows Bitcoin trading inside a descending channel, with lower highs and lower lows shaping the current price action. After a strong run earlier this year that pushed BTC above $120,000, the momentum has weakened.
The green support band between $111,000 and $113,000 has now become the critical area to watch. If this zone fails to hold, Bitcoin could revisit deeper levels, with the next significant support appearing near $106,000. On the upside, reclaiming $115,000 would be an important step before testing $120,000 again.
Technical experts emphasize the importance of the current support. “This region is a battleground for bulls and bears. If Bitcoin holds here, it could stage a short-term rebound. But a clean breakdown would open the door to $106,000 and potentially $100,000,” According to BITX market strategist .
The decline below $112,000 comes at a time when trading volumes have remained subdued, reflecting caution among investors. Historically, such phases of consolidation within a downtrend can lead to sharp volatility once the range is broken decisively.
In short: Bitcoin is now testing a crucial support area. Whether bulls can defend $111,000–$113,000 will determine if BTC stabilizes for a rebound or slides toward lower levels in the weeks ahead.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.