Bitcoin Faces Renewed Pressure Below $107K as Death Cross Threatens Market Sentiment
Bitcoin (BTC) slipped lower in Wednesday’s Asian trading after another failed attempt to reclaim $107,250, the key support-turned-resistance that has defined market sentiment this month.
The rejection confirmed the validity of the earlier bearish breakdown, reinforcing short-term downside pressure. Technically, the move adds weight to a potential “death cross” formation, where the 50-day simple moving average (SMA) crosses below the 200-day SMA — a traditionally bearish signal that often reflects fading short-term strength relative to the long-term trend.
Still, history suggests caution in over-interpreting the signal. The last three death crosses — in September 2023, August 2024, and April 2025 — all proved unreliable, producing false bearish outcomes.
For now, market focus remains on the $100,000 support zone. A sustained move below that level could trigger accelerated selling and open the door to deeper retracements, while a recovery above $107,250 would be needed to reestablish bullish momentum toward $112,000–$115,000.
Ether Drops 1.5% as $3,590 Support Collapses, Confirming Bearish Control
Ether (ETH) fell 1.5% on Tuesday, dropping from $3,629 to $3,576 after a failed retest of resistance near $3,646. The decline confirmed a bearish shift as sellers overwhelmed buyers, driving a breakdown below the critical $3,590 support level.
Data from CoinDesk Research showed trading volume surged 138% above the 24-hour average, with 338,852 contracts exchanged — evidence of institutional participation in the move. The session’s intraday low of $3,532 marked a decisive rejection of bullish momentum following weeks of consolidation.
The breakdown follows increasing technical weakness, with multiple lower highs and diminished buying pressure. Despite notable institutional interest — including Republic Technologies’ $100 million ETH allocation and BitMine’s 3.5 million token holdings — momentum indicators signal continued distribution, not accumulation.
Technical Structure Points to Further Downside Risks
- Support & Resistance: Primary support now rests between $3,510–$3,530, while the former $3,590 support level acts as new resistance.
- Volume Profile: Breakdown volume exceeded the daily average by 138%, confirming strong selling conviction.
- Price Pattern: A series of lower highs from $3,646 underscores a developing bearish continuation setup.
- Target Zones: Immediate downside target sits at $3,510, with potential extensions toward $3,480–$3,500 if weakness persists.
Market Overview — CD5 Index Edges Higher Amid Sector Rotation
The CoinDesk Index 5 (CD5) gained marginally from $1,840 to $1,843 during the latest 24-hour period, reflecting modest stability across large-cap crypto assets. The index briefly reached $1,869 before sellers reemerged, keeping broader markets range-bound as investors gauge liquidity shifts and macro risk sentiment.
