Bitcoin Price Drop Warning: Crucial Support at $105K Looms

Key Points

1. Sentora's report indicates that 7.9% of Bitcoin's circulating supply is held at a loss, with a potential price drop to around $121,000.

2. The $105,000 level is identified as a critical support zone due to approximately 900,000 BTC previously acquired at this price, which could halt further declines.

3. Historical data shows Bitcoin has experienced significant price drops followed by recoveries, suggesting resilience despite short-term volatility.

4. Investors are advised to use strategies like Dollar-Cost Averaging (DCA) and stop-loss orders to manage risks during potential price fluctuations.

5. While short-term concerns exist, Bitcoin's long-term growth narrative remains intact, supported by fundamental factors.