Will Bitcoin (BTC) Fall Below $100,000 as Q2 Ends?

When geopolitical tensions increase and investor sentiment deteriorates, downward price pressure continues to spread across the spot and Derivative markets of Bitcoin.

Uncertainty about global macroeconomic stability has led many market participants to adopt a risk-reduction approach, with this coin showing signs of vulnerability as the second quarter is about to end.

Bitcoin Futures Contract Shifts to Downward Trend

As the coin struggles to gain momentum around the $103,000 price level, Bitcoin Futures Contract traders are increasingly betting against this coin.

According to Coinglass, the Longing/Short ratio of the coin — an important measure of trader sentiment — has strongly tilted towards Short since June 17, indicating growing confidence that BTC's recent price increase may be losing momentum. At the time of writing, this ratio is 0.95, showing many traders are betting against this altcoin.

This ratio compares the number of Longing and Short positions in the market. When a asset's Longing/Short ratio is over 1, there are more Longing positions than Short, indicating traders are mainly betting on price increases.

Conversely, as seen with BTC, a ratio below 1 shows that most traders are betting on price decreases. This reflects increasing bearish sentiment and growing expectations of continued price drops in the short term.

Moreover, daily chart indicators from BTC's BBTrend indicator reinforce the downward price prospects. As BTC's price momentum weakens, the green chart bars on the indicator have gradually reduced in size, signaling a decline in buying pressure and loss of price strength.

BBTrend is used to measure price trend strength and direction. It appears as chart bars — green when the trend is increasing and red when the trend is decreasing.

When BBTrend turns negative or green bars shrink, upward momentum is fading, and the asset may be entering an accumulation phase or facing a reversal.

A consistently negative BBTrend indicates selling pressure is dominant, increasing the likelihood of a prolonged price correction for BTC.

BTC Drops to Two-Week Low: Will Support at $102,000 Hold?

Yesterday, BTC price dropped to a 15-day low of $102,345. Although it recovered and closed at $103,297, downward price pressure remains, with the coin still down 2% in the past 24 hours.

If new demand continues to be limited, BTC price may continue to drop to $101,520. If the bulls cannot defend this critical support level, the asset could fall deeper to $97,658.

On the other hand, if buying pressure increases, BTC could recover and attempt to break through $103,952. A successful move above this level could open opportunities for a price increase to $106,295.