Overview
- Bitcoin trades near $105,000–$106,000 after a weekend rebound, with Monday’s push stalling at $107,400 before easing back.
- Rejection near $107,250 reinforces a bearish near‑term setup, and a 50/200‑day SMA “death cross” is nearing even as recent crosses proved unreliable.
- Analysts flag $108,000–$110,000, including the 200‑day moving average, as the clearance needed for a durable recovery, with interim hurdles at $109,400, $111,000 and then $116,000.
- Flows and positioning remain a headwind as recent U.S. spot ETF data show choppy outflows and options skew leans toward puts, with calls for multi‑day inflows and a skew flip to validate upside.
- Market depth has kept price above $100,000 despite ETF redemptions and older‑wallet selling, though 10x Research warns a break could expose a liquidity gap toward ~$93,000; Strategy disclosed a 487 BTC purchase last week.