Bitcoin Risks Breakdown if $108K Support Fails, Analyst Warns

Bitcoin Battles for Key Support as Price Nears Historical Highs

Bitcoin (BTC) is once again at a critical juncture. Despite briefly touching $110,498 earlier this week, the world’s largest cryptocurrency is struggling to hold ground near its recent highs. According to leading crypto analysts, a decisive break below $108,000 could trigger a deeper correction that may send prices back into five-figure territory.

Crypto strategist Daan Crypto Trades cautioned on Thursday that Bitcoin is currently "attempting a breakout", but that slipping below $108K again could derail its momentum. “You don’t want to see this deviate back below $108K again at this point,” he noted on social media platform X.

$2.67 Billion in Long Positions at Risk

Bitcoin’s sharp rally in June has placed billions in leveraged long positions on the line. Data from CoinGlass reveals that $2.67 billion in long positions could be liquidated if BTC drops below $100,000 — a price last seen on June 22, amid heightened geopolitical tensions between Israel and Iran.

The current price sits at $109,126, roughly 2.5% below its all-time high of $111,970, as per CoinMarketCap. A continued pullback could invalidate the bullish structure, especially if key support zones fail.

“Any closes up around this $110K region would be good,” Daan added, implying that a strong daily close could preserve upward momentum.

Bitcoin is trading at $109,250 at the time of publication. Source: CoinMarketCap

Related: Bitcoin’s Rally Far From Over, Says Standard Chartered

Analyst Sentiment Mixed but Generally Bullish

Despite short-term concerns, several prominent analysts remain constructively bullish.

• Miles Deutscher, a crypto analyst known for macro calls, remarked: “It’s very hard to be bearish here.”

• CryptoFayz shared a technical chart indicating that a confirmed breakout above $111,960 — Bitcoin’s all-time high — could push prices to $116,000.

• Markus Thielen, Head of Research at 10x Research, told Cointelegraph he expects this level could be reached by the end of July, citing:

• Strong inflows into spot Bitcoin ETFs

• Ongoing uncertainty surrounding U.S. Federal Reserve policy

• The rapid decline of BTC supply on exchanges

A Different Kind of Consolidation This Cycle

While the current consolidation might resemble earlier Bitcoin price behavior, analysts note some important differences.

If Bitcoin falls to $99,445, approximately $2.7 billion in long positions will be at liquidation risk. Source: CoinGlass

Related: Bitcoin Dips, But Market Mood Stays in ‘Greed’ Zone

Daan highlighted that this cycle has seen Bitcoin stall, dip below range lows, reclaim them, and grind higher — but without "the actual breakout and continuation" typically seen in bull markets.

Meanwhile, James McKay, founder of McKay Research, added that Bitcoin’s prolonged consolidation phases are deviating from its traditional four-year cycle behavior, possibly signaling a structural shift in market dynamics.

“The longer we have these periodic, multimonth consolidations, the more it’s going to take us off the beaten [path],” McKay explained.

Key Levels to Watch

• Immediate support: $108,000

• Critical resistance: $111,960 (all-time high)

• Bullish target if breakout confirmed: $116,000

• Bearish scenario if support fails: $100,000 to $96,000

Bitcoin’s next move will likely depend on macroeconomic cues, ETF flows, and whether the current price structure can sustain a bullish breakout — or if it gives way to a deeper correction.

Related: ETF Flows on November 25: $435.3 Million in BTC Outflows, $2.9 Million in ETH Inflows