Bitcoin prices fell over $100,000 again in early May after a long revision. However, BTC fell below $100,000 for the first time since early May, following developments in US Iran over the weekend.
The decline is temporary, according to some analysts, but other analysts say that if critical levels are not maintained, the decline can deepen.
At this point, Markus Thielen, a research founder of 10 times more experienced analysts, said that the collapse or rise of Bitcoin depends on several levels.
Explaining the key levels of Bitcoin, analysts said that as long as BTC surpasses trend support in the short-term realised price of $98,000 and $102,000, there will be an opportunity to increase and investors can continue to look for tactical bullish opportunities.
However, analysts warned investors about the situation, saying that breaks below this range are highly likely, especially if there is no strong bullish catalyst.
Analysts say investors should manage their risk:
“The BTC has attempted three failures, over $110,000, due to the short-term macroeconomic shock, from tariff concerns in May to escalating between Israel and Iran in June.
At this point, Bitcoin has been in the consolidation phase for the past five weeks, and these events indicate that it is not acting as a hedge in the current environment. ”
Speaking about Bitcoin being too dangerous, Tieren said the integration could last several more months, “Our view is that we will integrate throughout the summer.”
Bitcoin uptrend continues!
Thielen is not bullish on Bitcoin, but Eugene Cheung, director of digital asset platform OSL, said its resistance points to strong institutional support despite Bitcoin temporarily falling below $100,000.
“Bitcoin has fallen below $100,000 due to the rising geopolitical tensions after the US strike against Iran, but it remains resilient. This indicates strong institutional support and long-term optimism,” Chen said.
Finally, LVRG research analyst Nick Luck argued that altcoin could outperform Bitcoin in the coming months.
Lack said that once macro conditions are stable, a cryptographic catalyst can emerge and the altcoin can outperform.
*This is not investment advice.