Bitcoin (BTC) is hesitating near the 111,000 dollar mark (approximately 152.9 million won) and is signaling a potential long-term adjustment. Bitcoin, which had been maintaining an upward trend above 100,000 dollars (approximately 139 million won) for over a month, has recently fallen to around 107,900 dollars (approximately 149.77 million won), stimulating market anxiety.
Currently, Bitcoin is technically trading above key moving averages such as the 50-day line (105,750 dollars, approximately 147.06 million won), 100-day line (103,011 dollars, approximately 143.18 million won), and 200-day line (98,082 dollars, approximately 136.27 million won), maintaining its bullish trend. However, trading volume is decreasing near strong resistance lines where the uptrend line intersects, and the daily chart shows a clear wait-and-see sentiment, weakening confidence in further price increases.
Swissblock's Bitcoin Fundamental Indicator (BFI) has recently stagnated below 60 levels, suggesting no clear improvement in Bitcoin's network growth or liquidity. This lack of momentum could prompt institutional investors or large holders to realize profits, potentially causing prices to drop below 105,000 dollars (approximately 145.95 million won) or even 100,000 dollars (approximately 139 million won).
Particularly, if the psychological support level of 100,000 dollars is breached, there are possibilities of retreating to around 98,000 dollars (approximately 136.22 million won) where the 200-day moving average is located, or in more extreme cases, to the 90,000 dollar (approximately 125.10 million won) level. This scenario suggests Bitcoin could transition from a simple correction to a medium-term downward trend.
Ultimately, for Bitcoin to set a new all-time high, it needs fundamental momentum beyond simple technical price analysis, such as definitive network activation and increased capital inflow. If these trends do not resume in the coming weeks, Bitcoin is likely to enter a prolonged consolidation phase in the 100,000-110,000 dollar range.
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