Bitcoin is currently trying to stay above the $100,000 to $103,000 range. This area was strongly supportive earlier, but has now become resistant. If Bitcoin manages to close above this range for several days, it could move higher toward $108,000 to $112,000, which is the next resistance zone. If it fails to hold above $100,000, there is a chance it could drop to around $89,600 to $90,000, which some analysts describe as a danger zone based on ETF positions.
If selling pressure increases further, some on-chain data analysts believe Bitcoin could fall toward the low $70,000s. This would likely happen if ETF withdrawals continue and leveraged traders keep getting liquidated.