Hyblock Capital: Bitcoin will fall to $ 107,000

This week, bitcoin BTC $115,486.00 Mezo Wrapped BTC 0.45% Market capitalization $41.21 million VOL. 24 hours $1.51 billion is down more than 3% and is trading near $ 112,500, breaking through key support levels. The price dropped below the 50- and 100-day simple moving averages, which lost their upward momentum for the first time since April and leveled off, signaling caution for investors.

Amid the decline, the number of mentions of the phrase «buy the dip» on social media has increased sharply, according to the Santiment analytics platform. This reflects the optimism of retail traders, but the company notes that such a surge is a counter-indicator. Historically, the price often moves in the opposite direction from the expectations of the crowd.

Santiment explained that when the majority of market participants consider the current level to be a good time to buy, the correction may continue. It is only after traders start taking massive losses and abandoning positions that more favorable entry points for new investors usually appear.

Hyblock Capital’s data shows that the largest liquidity cluster for BTC is concentrated at $ 107,000. This means that this particular mark can pull the price down. Such zones with a high concentration of orders often become stabilization points, as large buy orders are placed there.

In addition, analysts note the presence of smaller but growing liquidity pools around $ 109,000 and $ 111,000. This may increase volatility in the near future and indicates that the market has not yet found its final equilibrium after the last fall.