Bitcoin continues to face resistance below the $105,000 mark over the weekend, signaling persistent selling pressure from the market. On the downside, analysts are closely watching the psychologically significant $100,000 support level. Even if this threshold is breached, further losses may be limited. On-chain data from Glassnode reveals that the short-term realized price currently stands at $96,000. Historically, during bullish market phases, Bitcoin rarely trades below this metric for long, suggesting any dips may be short-lived. Meanwhile, regulatory developments in the United States continue to unfold. Five states have passed new Bitcoin- related legislation. Notably, Texas has officially launched its long- anticipated state Bitcoin reserve, reinforcing its pro-Bitcoin stance. In contrast, Alabama has paused efforts to exempt crypto from certain taxes, with the proposal now indefinitely delayed.
At the time of writing, BTC was trading at $104,743.
BTC witnessed a massive rally from the recent lows of $74,508 to the new all-time high of $111,980. The price surged by almost 50%. However, the bulls failed to maintain their grip on the asset as it saw minor profit booking from the higher levels, dropping to $103,068. The asset has strong support at $100,000 and $90,000. To rally further, BTC needs to break, close, and sustain above the all-time high.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. |
| $90,000 | $100,000 | BTC | $110,000 | $125,000 |
Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!
