Bitcoin’s recent dip below $100,000 has raised alarm bells across the crypto market, with the asset currently trading at $92,951.
Market analyst Ali Martinez has outlined critical support levels to watch as BTC faces bearish pressure. A mix of macroeconomic factors and technical patterns suggests heightened volatility in the near term.
Bitcoin’s Recent Slide
BTC’s price fell from $102,278 on January 7 to its current level, losing over 5% in a single day. The decline was driven by U.S. labor market data hinting at fewer interest rate cuts in 2025, which dampened investor sentiment.
| Metric | Value |
|---|---|
| Recent High | $102,278 |
| Current Price | $92,951 |
| 24-Hour Change | -1.94% |
| Key Resistance | $98,600 |
| Major Support Zone | $92,000–$74,000 |
Key Demand Zone at Risk
Martinez highlighted the $95,400–$98,400 range as a critical demand zone, where approximately 1.77 million addresses acquired 1.53 million BTC. Bitcoin’s dip below this area raises concerns about potential sell-offs as investors may aim to minimize losses.
The analyst also warned that a sustained move below $92,000 could lead to further declines, with Bitcoin facing minimal support until it reaches $74,000.
This level aligns with bearish projections from multiple analysts, signaling a potential deeper market correction.
Technical Signals for a Short-Term Rebound
Despite the bearish outlook, the TD Sequential indicator on Bitcoin’s 4-hour chart flashed a buy signal, suggesting the potential for a short-term bounce.
Martinez identified $98,600 as a target for this rebound, driven by a $35 million liquidation area that could entice market makers to push prices higher.
However, Martinez cautioned that this rebound might be temporary. If Bitcoin fails to reclaim $100K, the bearish trend could remain intact. A drop below $92,000 would invalidate any recovery attempts, increasing the likelihood of a sharper downturn.
Broader Macro Factors at Play
The combination of weaker expectations for rate cuts and the loss of critical technical levels has exacerbated market fears. With minimal support between $92,000 and $74,000, Bitcoin is in a precarious position.
While short-term opportunities exist, traders should remain cautious and closely monitor key levels. A decisive move above $100K could invalidate the bearish trend and restore market confidence.
Bitcoin’s current position at $92,951 places it in a critical zone, with minimal room for error. The next few days will be crucial as the asset battles between bearish sentiment and short-term rebound opportunities. Traders should watch for signs of recovery at $98,600 or prepare for a possible slide toward $74,000.
