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Bitcoin Plunge: Could BTC Dip Under $100K?

BTC Rebound or Breakdown? Key Levels to Watch

June 7, 2025
in Coins, News
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On June 5, Bitcoin (BTC) saw a sharp decline, dropping to $100,000 following the fallout between Elon Musk and Donald Trump over deficit reduction. Despite this downturn, technical analysis indicates strong buying activity, with BTC rebounding 3.40% today from its June 5 low of $100,305 at 4 pm ET. Could this recovery ease fears of a further decline? Will BTC dip below $100K? Let’s explore.

Why Did Bitcoin Drop to $100K?

As highlighted, the crash was likely due to subdued 30-day implied volatility and a decrease in CME futures and options open interest.

Additionally, BlackRock’s pivot from Bitcoin to Ethereum, resulting in 11 consecutive days of ETH ETF inflows—may have played a role in the BTC price decline.

Another factor influencing market liquidity is the Circle IPO, as investors shift capital from Bitcoin and other top cryptocurrencies to traditional markets.

Bitcoin Technical Analysis: Could BTC Fall Below $100K?

Despite the downturn, BTC has climbed 3.40% from its recent low, showing resilience. Traders aiming to capitalize on dips and short-term rebounds should analyze the weekly Bitcoin Time Price Opportunity (TPO) chart, which highlights key levels:

  • Equal lows at $100.3K: These levels formed after the crash and contain sell-side liquidity, likely to be revisited if buyers struggle to flip key resistance zones. A sweep of these lows can provide strong entry points for scalp trades.
  • Single print at $99.9K: Created by an inefficient upward move on May 8, this unfilled gap serves as support by absorbing selling pressure, as seen during the May 12 retest.
  • Resistance zone at $105.3K – $105.8K: Failure to break above this range would confirm weakness, forming a lower high compared to the June 3 peak of $106.7K. A breakdown below $99.9K could trigger a 5% drop to the next single print level at $95.2K.

Renowned trader RektProof pointed out the CME gap at $92K, reinforcing the bearish outlook.

Bitcoin’s crash to $100K liquidated over $1 billion in crypto positions, yet dip-buying activity has driven prices 3.40% higher. If buyers fail to push BTC beyond $106K, another downward move could send prices below $100K, potentially hitting $95K or even $92K.

Tags: BitcoinblockchainBTCCryptocurrency

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