Bitcoin Retreats Below $107K as Key Resistance Holds, Death Cross Nears
Bitcoin (BTC) slipped during Wednesday’s Asian session after bulls failed to reclaim $107,250, a level that previously acted as strong support before turning into resistance following this month’s bearish breakdown.
The latest rejection reinforces the weakness in the broader trend and adds weight to a looming “death cross” — a bearish technical signal that forms when the 50-day simple moving average (SMA) drops below the 200-day SMA. The pattern suggests short-term momentum is lagging behind the long-term trend, often preceding extended downtrends.
Still, traders remain cautious about overinterpreting the signal. The last three death crosses — in September 2023, August 2024, and April 2025 — all produced false bearish outcomes.
For now, attention turns to the $100,000 psychological support level. A decisive break below could trigger accelerated selling, while a close above $107,250 would invalidate the bearish setup and pave the way toward $112,000–$115,000.
Ether Slides 1.5% as $3,590 Support Collapses, Bears Regain Control
Ether (ETH) fell 1.5% on Tuesday after bulls failed to extend an early rally past $3,646, sending prices down to $3,576 and confirming the shift back to bearish control.
Data from CoinDesk Research showed trading volume surged 138% above average, with 338,852 contracts exchanged as selling pressure intensified. The breakdown through $3,590 — a key demand zone — marks a significant structural shift for ETH, which briefly touched an intraday low of $3,532 before stabilizing.
Despite recent institutional interest, including Republic Technologies’ $100 million ETH allocation and BitMine’s 3.5 million token holdings, technical momentum has deteriorated. Multiple failed breakout attempts have now formed lower highs, cementing a short-term bearish bias.
Technical Snapshot: Market Under Pressure
- Support/Resistance: Key support sits at $3,510–$3,530, while $3,590 now acts as resistance.
- Volume Trends: Breakdown volume surged 138% above the daily average, signaling strong institutional participation.
- Chart Structure: Lower-high formation from $3,646 confirms a bearish continuation setup.
- Targets: Near-term downside targets range between $3,480–$3,510, barring a swift rebound above resistance.
Broader Market: Crypto Index Remains Volatile
The CoinDesk Index 5 (CD5) edged up slightly from $1,840 to $1,843 during the latest 24-hour session. The index briefly touched $1,869 before renewed selling capped gains, signaling continued distribution across major digital assets amid mixed liquidity conditions and selective institutional flows.
