Crypto Slips Into the Red: Bitcoin Breaks $107K Support
Traders eye key support levels as macro tensions and ETF outflows pressure the crypto market
Bitcoin’s week just got heavier. The world’s largest cryptocurrency slipped under $107,000, marking its fourth straight day of losses and reigniting concerns about market stability.
The drop reflects a wave of selling across risk assets, with traders weighing everything from renewed U.S.–China trade tensions to weakening ETF inflows. Bitcoin is now testing one of its most critical support zones, a level analysts say could decide whether this correction deepens or stabilises.
The $107K Line in the Sand
Technical traders are fixated on the $107K–$110K range, a zone that represents both a psychological and on-chain cost basis for many short-term holders. If the price holds, Bitcoin could bounce and consolidate. But a close below could expose lower targets near $95K.
What’s Dragging Prices Down
Two main forces are driving the decline:
Macro fears: Heightened global uncertainty has pushed investors away from risk assets. Reuters reports that renewed U.S.–China friction and tightening financial conditions have added to the pressure.
ETF and fund outflows: Data from Decrypt shows Bitcoin ETFs saw their largest outflows since August, signalling waning institutional demand.
The Bigger Picture
This correction comes after a strong year where Bitcoin crossed $120,000 for the first time, fuelled by institutional inflows and broader mainstream adoption. The current pullback, while sharp, could also be a healthy reset if support holds and new buyers step in.
Still, a sustained break below $107K would likely shift sentiment from “buy-the-dip” to “brace-for-impact.” For now, Bitcoin’s next move depends less on hype and more on whether traders and institutions still believe in the rally’s backbone.
Stay tuned with CanHav Crypto Research,curated insights and market updates to keep you ahead of every crypto move.