Analyst: BTC may experience a "larger correction," probing the liquidity area below $100,000

ChainCatcher news, according to Cointelegraph, the key support level for Bitcoin price remains at $100,000. Since breaking above $100,000 on May 8, it has steadily remained above this critical price level for more than three weeks. This level has become a focal point for traders, and there has not been a significant pullback test recently. MN Capital founder Michael van de Poppe pointed out that Bitcoin is currently around $104,300, and after being rejected at the $106,000 mark, it may further decline to build up upward momentum again; $100,000 remains a key support level that needs close attention.

A chart shared by analyst CrypNuevo shows that Bitcoin has failed to turn the $106,000 resistance level into a support level. He stated, "Therefore, we are likely to pull back to the psychological level of $100,000 and test the 150-day exponential moving average."

Well-known analyst AlphaBTC predicts that if Bitcoin loses the $100,000 support, a deeper correction may occur, with prices potentially dropping to $90,000. He noted, "As this larger correction unfolds in early June, BTC is likely to consolidate for a while as the market waits for more data and the results of the Federal Reserve's meeting on June 18."