What happened?
Bitcoin slid from highs near $115,000 to about $109,300, putting bulls on the defensive. Key onchain support sits at $111,400 with a broader demand zone between $104,000 and $108,000, and analysts warn a break could expose a long-term floor near $60,000. Technicals show bears in control under a descending trendline and moving averages, while Fed comments and options expiry added selling pressure.
Who does this affect?
Short-term traders are most at risk since failing to hold $111k–$110k could trigger stop losses and renewed selling. Institutional players and long-term investors are watching big support levels and moves like BlackRock’s recent BTC purchases and ETF filings, which can change demand dynamics. Retail traders, options holders, and participants in new token presales (like HYPER) will feel the resulting volatility and potential price swings the most.
Why does this matter?
A decisive break of the support band could lead to a sharp market sell-off and reopen the path toward much lower levels, undermining confidence across crypto markets. Macro signals from the Fed plus large institutional flows will shape risk appetite and could either cushion or amplify price moves. That means higher volatility for traders, shifts in fund allocations, and wider spillover effects for crypto-linked products and markets.