Bitcoin (BTC) Price Analysis: BTC Faces a Challenging Start to 2025 With a Rejection at the $100,000 Mark

Bitcoin has had a rough start to 2025, with multiple attempts to break through the $100,000 price point being met with rejections. The most recent rejection occurred last week when BTC price peaked at $102,000 on Monday, only to reverse sharply and fall to $92,000 by Thursday.

This continued tug-of-war has brought the bearish case for BTC into sharper focus, with technical analysis highlighting a 50/50 chance of a further drop or a bounce.

$90,000: A Pivotal Support Zone Under Threat

Recent Bitcoin price action has significantly put the $90,000 price point as the most notable support level for the bulls. Although the crypto has largely held above the $90,000 support level even during the recent corrections, the bearish outlook hinges on its ability to defend this level.

A technical analysis by crypto analyst EGRAG CRYPTO highlights how Bitcoin has made five different attempts to test a support trendline around $90,000, which further reveals the importance of the level. This repeated retest increases the chance of weakening the support strength and is gradually making Bitcoin more vulnerable to a sharp decline.

With this in mind, the major task for Bitcoin bulls would be to hold above the $90,000 and break resistance levels above $100,000 in order to invalidate a bearish outlook. Should Bitcoin fall below $90,000, it could cascade to a further price drop to the $87,000 range or even lower. A fall below $87,000 could, in turn, cause a quick fall through a $12,000 gap to reach $75,000.

Resistance Levels To Break: $103,000 To $108,500

As noted by EGRAG CRYPTO, Bitcoin could continue to pose a bearish threat until it closes above a few resistance levels. These resistance levels are situated at $103,000, $106,400, and $108,500, and consistent daily closes above these thresholds are required to confirm a bullish trend. The third resistance of $108,500 is the most notable, as a break above it would see Bitcoin trading at new all-time highs.

However, according to EGRAG CRYPTO, current technical indicators suggest that the chances of a pump are low at the moment. For instance, Bitcoin has now lost the support of the 21 EMA on the daily candlestick timeframe, and sentiment is now in a neutral zone on the Fear and Greed Index.

Related Reading: Bitcoin Price Under Threat: $12,000 Void Opens Up Possibility Of Crash Toward $75,000

As it stands, the biggest factor that could see bullish momentum return to Bitcoin is the upcoming inauguration of Donald Trump on January 20th and the anticipated crypto-positive policies that during the new administration. EGRAG CRYPTO notes that the event could either trigger a short-term rally or exacerbate the ongoing decline. At the time of writing, Bitcoin is trading at $94,400.