Bitcoin price has continued to face pressure, following the overall bearish sentiment across the crypto market. The leading cryptocurrency remains below $110,000 after briefly testing $111,000 before retreating.
Despite the decline, analysts suggest the current structure still shows strength in support levels. The coin fell 0.8% to $107,725 in the last 24 hours, reflecting cautious investor behavior and reduced risk appetite.
Crypto analyst has indicated that there might be another major breakout of the price of Bitcoin. An analyst was posting a chart that indicated that Bitcoin could be raising another significant upward trend.
The pattern in the chart was increasing impulses with brief consolidations, with alternating green and blue arrows. This has been followed by the historical rallies in the price of Bitcoin. According to the analyst, the pattern appears to be repeating, signaling a potential surge once again.
After the drastic fall in the prices of BTC on October 10, big investors have been quick to accumulate more coins. Statistics indicate that wallets containing a range of 10,000 to 100,000 BTC are increasing by the addition of more than 45,000 of new coins in the immediate aftermath of the crash. This indicates that big holders are making a fortune out of the low end as the small traders go on selling in fear.
Glassnode analytics revealed that the supply held by these big wallets has been on the increase despite the volatility in the recent past. The data indicate that institutional and high-net-worth investors are treating the downturn as a buying opportunity. Market sentiment among these groups remains confident despite retail uncertainty.

At the same time, speculation has surfaced about potential market manipulation linked to a major political insider. Reports claim a trader known as a “Trump insider” opened a $227 million short position and sold 4,250 BTC worth $470 million. The move allegedly aimed to pressure Bitcoin’s price even lower during an already fragile period.
As of the reporting time, the BTC price hovered at $108,000, with a slight bearish trend.
The MACD lines are converging, which indicates the decrease of bullish momentum and the possibility of bearish crossover. In the meantime, the Relative Strength Index (RSI) is at 44 indicating neutral to slightly bearish.
The decline to approximately $112,000 was met with a sharp decline, wiping out the gains. The bears have developed an interest in attacking the area of between $106k to $107k that would serve as good support in the past. Any clean-up under this area would provide an opportunity to reach $104,000.
On the other hand, if buyers manage to defend the $108,000 range, a short-term rebound may follow. Bulls would then need to reclaim $110,000 to regain market control and push prices toward $113,000.
Frank Bevah is a seasoned crypto and finance journalist with over five years of experience in the industry. He is widely recognized for his in-depth market insights, well-researched reporting, and sharp analytical skills. Specializing in cryptocurrency, blockchain, and global financial markets, Frank consistently provides accurate, timely updates and data-driven analysis that guide readers through the complexities of digital assets. His work emphasizes spotting emerging trends, examining market cycles, tracking technological innovations, and monitoring regulatory developments shaping the crypto landscape. Beyond journalism, Frank enjoys playing chess, traveling, and exploring new experiences. He is based in Mombasa County, Kenya.