Bitcoin’s $110K Meltdown: Watch Bulls Try (and Fail) Again—Should You LOL or Cry?

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Key takeaways:

  • Bitcoin’s third date with $110,000 ended in a hard “let’s just be friends.” Bulls officially ghosted by higher prices.

  • Brace yourself: If Bitcoin keeps tripping over its own feet, we could be limbo-dancing down to $105,000. Again. 🕺🚨

Thursday: Bitcoin (BTC) attempted a bold, overcaffeinated leap at $110,000. US employment data? Oh, it just showed up, looked over Bitcoin’s shoulder, and whispered, “Nice try, you adorable, volatile mess.” Rate cut dreams?
Stuffed in a drawer marked “Maybe September, but probably not.”

Scoreboard: May’s all-time high? Still high. This is Bitcoin’s third spectacular fail at that level, and at this point, $110K should probably file a restraining order.

Bitcoin price risks  a glorious faceplant

History lesson nobody asked for: Whenever Bitcoin gets rejected at all-time highs, the price tends to tank faster than my enthusiasm on a Monday.

In January: bounced off $107K a few times (close, but no cigar), then skidded 14% over two sad weeks. Not to be outdone, after hitting resistance at $72,000 in March 2024, BTC simply dropped 18%—because why lose a bit when you can lose dramatically? 🎭

If Bitcoin’s into cycles—and let’s face it, it is—a 14-18% plunge is waiting backstage, ready for its curtain call.

Technical indicators are flashing “Nuh-uh!”—Bearish divergence in the RSI (the chart’s version of side-eye), big sell orders at $110K, and funding rates screaming “who even wants risk right now?” All roads point to… a sharp pullback or just sad traders eating ice cream from the tub.

Taker Sell Orders starting to rumble on this headline 🩸

— Maartunn (@JA_Maartun) July 3, 2025

Bitcoin: The zones of interest, like a bad dating advice column

CryptoMoon Markets Pro and TradingView swear Bitcoin is lingering at $109,100 like someone lurking outside their ex’s flat at 2 am. The infamous $110,000 remains the velvet rope at the crypto club, with the bouncer (aka the market) saying, “Name’s not on the list.”

If, by some fluke (or a momentary lapse in collective trader judgment), we break above $110K, there’s a supply zone up to $112,000. Party’s only just getting started—BYOB (Bring Your Own Bitcoin).

Bears aren’t exactly napping, either—they’ll probably defend $110K like it’s the last biscuit at the office tea party. So: things to watch? The area around $107,500 (where the 50-day moving average hangs out, looking cool), and $106,000 (where the 100- and 200-day moving averages converge because why not throw a party for technical indicators?).

Also, recent low at $105,200, and the $104,000 psychological “line in the sand”—where traders go to dramatically sigh.

KillaXBT, possibly named after an energy drink, reckons if the $108,000 to $107,500 floor collapses, it’s correction time. Survive that, though, and BTC could run up to fresh all-time highs looking like an overzealous golden retriever. 

“Hold = I TP my short and aim for a sweep of ATH this month.”

And lo, the CoinGlass heatmap reveals a $121 million liquidity cluster sitting smugly above $110K. Translation: if BTC finally fumbles its way above that, expect a squeeze so short sellers will be yanked out of their trousers, possibly towards $114,000. 🩲

On the downside: chunky bid orders forming a cuddly but ineffectual safety net from $108,000 to $105,000. Sleep well, sweet traders—tomorrow brings more crypto heartbreak. Or another meme rally. 🍿

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2025-07-04 14:40