Jun 3, 2025
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Bitcoin Price Drops to $103,700 as Analysts Highlight Key Levels
The Bitcoin price has recently dropped to $103,700, with key levels of $107,500 and $103,500 highlighted by analyst Captain Faibik. These levels are crucial as bulls and bears compete for control over the next price movement.
Key Price Levels
- $107,500 is seen as a resistance level that bulls aim to reclaim for upward momentum.
- A sustained break above $107,500 may lead to a bullish move toward $117,000, potentially setting a new all-time high.
- $103,500 acts as a support level; falling below this may favor bearish sentiment.
Bitcoin had previously surged past $106,000 due to favorable news about U.S.-China trade relations, following comments from Donald Trump regarding trade deal violations. Upcoming discussions between Trump and China's president could further influence Bitcoin's value.
Current Market Conditions
- Analyst Kevin Capital emphasized the importance of reclaiming $106,500, citing a recent close below this threshold as a risk factor.
- Titan of Crypto noted the formation of a Katana pattern on the weekly chart, indicating low momentum and potential market shifts.
As of now, Bitcoin is trading at approximately $105,435, reflecting a slight increase in the last 24 hours, according to CoinMarketCap data.
