Bitcoin's Crash Below $100,000: Critical Support and Resistance Levels

Bitcoin's recent drop below $100,000 has generated significant market chatter. Following this flash crash, new price levels have emerged that could potentially anchor BTC in its pursuit of reclaiming its six-figure valuation.

According to on-chain data analysis, the most important support area to monitor is $96,870, where approximately 1.45 million addresses collectively hold around 1.42 million BTC. This position is noteworthy as it marks the 'In the Money' zone, suggesting that these holders are currently profitable.

Additionally, Bitcoin faces smaller resistance above $100,000, where the digital asset encounters increased selling pressure. If the $96,870 support holds, the current downward trend may reverse, pushing Bitcoin towards a potential bull cycle.

Historical patterns indicate that Bitcoin could reach its next market peak by October 2025, leading some analysts to believe that a new bull run is just beginning. Onlookers remain optimistic, expecting Bitcoin to potentially trade around $200,000 by 2025 due to sustained institutional capital inflows.

As of now, BTC is trading at $97,950 amidst a 5% daily loss, but it has seen nearly 1% growth over the past week. Market sentiment remains in the 'Greed' zone, with indicators pointing towards potential price growth in both the short and long term.