The Bitcoin price is under pressure below the key support level, currently hovering around $101,800. The market has entered an extremely bearish phase, and if the price cannot quickly rebound above the previous key support, a deeper fall may occur subsequently.

Funds continue to flow out, institutions are selling off, BTC has fallen below multiple important moving averages, and it has been consistently closing in the red on the daily chart.
This indicates that the bearish forces are stronger. If the psychological level of 100,000 USD cannot be maintained in the short term, market panic is likely to spread rapidly, potentially triggering large-scale stop-losses and further deleveraging liquidations. Traders should remain extremely cautious in the current area and closely monitor the effectiveness of the 100,000 USD support level.