Bitcoin price drops below key levels, analysts warn of deeper drop, short-term traders booking profits.

From Cointelegraph

July 1, 2025 5:15 pm:

Bitcoin price pulled back to $105,250 after failing to break above $109,000. Analysts suggest a local top may be forming or consolidation could occur. Charts show possible range expansion, with support at $104,500 and $100,000 if price slips. Bullish scenario if price rebounds above moving averages and downtrend line.

Short-term traders book profits as BTC/USDT pair breaks below moving averages. Support expected at $104,500, with resistance at $100,000. Break above 20-day EMA could lead to rally towards downtrend line and possibly challenge all-time high at $111,980. Buyers need to defend $104,500 level to prevent further decline.

Read more at Cointelegraph: Bitcoin Price Sells-off Toward $100K, But For How Long?