Bitcoin May See New Lows Below $100,000, Analyst Says

Bitcoin is trading near the $100,000 support level as of press time. Analyst Ted Pillows believes the cryptocurrency could decline further without a strong daily candle above the $106,000 resistance level.

Pillows, who has over 240,000 followers on X (formerly Twitter) and identifies as a survivor of two Bitcoin four-year cycles, noted the market’s volatility is challenging existing cycle theories.

In a recent tweet, Pillows observed, “$BTC is holding above the $100,000 level for now. The Coinbase Bitcoin premium is still deeply negative, which shows a lack of demand. Until BTC closes a strong daily candle above the $106,000 level, expect new lows.” He shared a graph illustrating potential price movements.

Pillows’ analysis suggests Bitcoin could potentially fall below $100,000 and rebound around $93,000, or remain within the $100,000-$106,000 range. A strong bullish daily candle above $106,000 is needed to shift the short-term bearish outlook.

One X user suggested low liquidity due to the US government shutdown may be contributing to the market conditions, adding that a test of $108,000 could indicate further upside.

Bitcoin’s 2025 cycle is approaching its conclusion, putting pressure on bullish investors. Sustained trading below key resistance levels makes a significant market reversal increasingly difficult.

The current US government shutdown is adding to market uncertainty, although a resolution could potentially trigger a rally.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.