Analysis: Bitcoin’s Current Trend Lacks Breakout Continuity, Correction May Not Be Over

Odaily Planet Daily – Affected by the situation between Israel and Iran, Bitcoin briefly dropped to $102,600 before quickly rebounding to around $106,000, but then fell back again to $105,200, still 6% below its all-time high. The CoinDesk 20 Index fell 4.4% over the same period, while ETH, AVAX, and TON saw declines of 6% to 8%.
Despite the overall downturn in crypto stocks, Circle (CIRCL) bucked the trend and rose 13%, driven by continued momentum after its IPO and reports that Amazon and Walmart are exploring stablecoin initiatives.
Analysts generally believe that Bitcoin currently lacks sustained breakout momentum. Markus Thielen, founder of 10x Research, noted that falling below $106,000 signals a “failed breakout,” with short-term support at $100,000 to $101,000. If this support fails, Bitcoin may return to a consolidation range. Ledn’s Chief Investment Officer John Glover predicts the pullback could extend to the $88,000–$93,000 range, viewing the $90,000 level as a strong mid- to long-term entry point, with the potential to challenge the $130,000 target in the future. (CoinDesk)