Bitcoin’s resilience continues to be tested, but the bulls are holding the line. After defending the $105,000 level, BTC has started to show early signs of strength, suggesting that buyers are stepping back in at key support. Several analysts believe the market could be forming a near-term bottom around $100,000. However, not everyone shares that optimism — Bloomberg analyst Mike McGlone warned that Bitcoin could still face a deeper pullback, potentially sliding as low as $56,000.

Bitcoin tried to bounce at the start of the week, but the long upper wick on the daily candle makes it clear that sellers are still active on every move higher. Several analysts argue that the market may be close to forming a bottom and that most of the downside damage has already been absorbed. Bitwise CEO Hunter Horsley said on X that Bitcoin has effectively been in a sixmonth bear phase that is now nearing its end, adding that the broader setup for crypto “has never been stronger.” Still, sentiment data paints a more cautious picture. Analytics firm Santiment reminded traders that true market bottoms rarely form when everyone agrees on the exact level — bottoms tend to appear when sentiment is at its most uncertain and fearful, not when the crowd is unanimously calling for a reversal.

Bitcoin is trying to find its footing around the $93,000 mark, but the absence of a strong rebound shows that bears are still dominating the market. Every minor recovery attempt is being met with selling pressure near the psychological barrier of $100,000, turning it into a key resistance level to watch. If BTC fails to hold current levels and faces rejection near $100,000, the risk of a deeper pullback toward $87,800 and even $83,000 increases sharply. Bulls need to act quickly — a decisive move above the 20-day EMA at $102,022 would signal renewed strength and could trigger a push toward the 50-day SMA at $109,927. Until then, momentum remains fragile, and buyers must prove they can reclaim control in the near term. Ether has managed to hold above the crucial $3,000 support, showing signs of buyer interest at lower levels, but the bears remain active below $3,350. The ETH/USDT pair may see some relief up to the 20-day EMA near $3,444, where sellers are likely to step in once again. If the price fails to sustain above this zone, ETH risks breaking below $3,000 — a move that could accelerate losses toward $2,500. On the other hand, a clean breakout above the 20-day EMA could open the doors for a rally to the 50-day SMA around $3,871. A close above that level would hint that the correction phase might be nearing its end, with the bulls regaining some traction. XRP remains under pressure, sliding within a well-defined descending channel that reflects persistent selling on every bounce.

Minor support lies at $2.15, but a breakdown below this level could pull the XRP/USDT pair down to the support line of the channel, where buyers are likely to make a stand. If that level fails to hold, the next downside target could be near $1.61. For the bulls to stage a meaningful comeback, XRP needs to climb above the 50-day SMA at $2.52 and secure a close above the downtrend line. Such a move would be the first sign of strength and could mark the beginning of a short-term trend reversal. Trader’s Outlook Bitcoin’s near-term trend remains under pressure, with the $93,000–$100,000 range acting as a key battleground. A break below $93,000 could extend the decline, while a push above $102,000 would be the first real sign of bullish recovery.

Ether is trying to stabilize above $3,000, but unless it clears $3,450, the risk of further weakness persists. XRP continues to lag behind the majors, trading defensively inside its descending channel. Overall, the crypto market remains in a cautious consolidation phase traders should stay alert for potential breakdowns but be ready for sharp relief rallies as volatility tightens.

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