Bitcoin is facing the risk of a deeper drop as BTC slips below key support levels . Specifically, Bitcoin closed below the critical $106,400 support level , signaling the potential for a deeper correction. On July 1, 2025, Bitcoin pulled back to $105,250 after failing to cross above the $109,000 mark on Sunday and Monday. Bitfinex analysts said that Bitcoin could have formed a local top or may enter a period of consolidation . If the price slips and sustains below the moving averages, the BTC/USDT pair could slump to $104,500 and below that to $100,000 . Furthermore, Bitcoin price faces potential risk if it loses the $107k support level . Experts warn of increased volatility if Bitcoin price drops below the $106,800 support . Despite the fact that institutional investors continue to show strong interest , the technical charts are showcasing a potential risk ahead for the crypto. If Bitcoin price loses the $107k support , analyst Michael van de Poppe warns that future movements may not be smooth. A dip below $107k would trigger volatile trading . Meanwhile, $97,424 serves as the next significant support . If BTC price fails to hold that level, it could lead to deeper plunges, with $91,701 and $86,951 emerging as possible downside targets . On June 22, Bitcoin traded at $99,636.89, down 3.8% in 24 hours . The global crypto market reacted swiftly to heightened geopolitical risks and weakening technical conditions . If bears breach this floor, the next likely downside target lies in the $93,000–$94,000 zone . However, despite the downtrend, some analysts believe that the market quickly absorbs selling, paving the way for a bullish July . Despite the movement of older coins, one analyst sees this redistribution as typical in bull markets and believes the market is absorbing the selling pressure .
