Bitcoin Falls Below $97K Again; Analysts Flag Two Key Levels
Bitcoin dropped below the $97,000 area once more, marking the third breach of that zone this month and sparking over $1.1 billion in long-position liquidations in a 24-hour window. The swift losses have amplified volatility across spot and derivatives markets, forcing traders and funds to reassess risk exposures as margin calls accelerate.
Market analysts point to two key levels that will likely determine near-term direction: the immediate $97K support and a second, lower support band that would signal deeper downside if broken. The outcome matters because a decisive break could trigger further forced selling in futures and options, while a rebound from these levels would relieve short-term selling pressure. Traders and institutions will be watching order flow and funding rates for clues on whether the current pullback is a consolidation or the start of a larger correction.