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    Home » Bitcoin drops under $120,000 after weak data, raising warnings of a further 10% slide,

    Bitcoin drops under $120,000 after weak data, raising warnings of a further 10% slide,

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    By chloe on October 9, 2025 Uncategorized
    Bitcoin logo in the center, red downward chart, RSI and Bollinger overlays, newsroom-style lighting.
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    Bitcoin slipped beneath the $120,000 round number after weak data, with data warning that the retreat could extend by another ten percent. Short-term owners, futures players and exchange-traded notes felt the drop, and debate has revived over whether the $105,000 – $108,000 zone will hold, since a break there could pull liquidity and swell leverage in derivatives.

    Data records a fall from about $124,474 to under $115,000 in recent trades, with spot prints near $121,315 in early October 2025 and a May low around $105,272. The 4-hour chart shows lower peaks, a double top, RSI bear-divergence and widening Bollinger bands, all pointing to higher volatility skewed down.

    Bids for Bitcoin at $111,000 – $112,000 were rejected and the $105,000 line is thin. Prediction markets and several analysts priced a 68% chance at end-September 2025 that price would revisit below $105,000; if that floor snaps, Modelled targets run from $101,000 – $102,000 down to $97,000 or even $70,000. Briefly, a double top shows two similar highs and often marks a shift from rise to fall, while the RSI gauges the speed of moves.

    Implications for Bitcoin

    Three areas of focus: liquidity, leverage and institutional mood. Short-term sellers are locking gains while fresh shorts pile on, and both add supply into the market.

    Outside the chart, stalled U.S.–China trade talks and a firmer dollar weigh on risk appetite. ETF outflows exceeding $465 million tighten institutional pipes, though a few banks still keep long-range bull forecasts.

    Trading resource Material Indicators meanwhile leveraged proprietary trading tools to highlight repeated tests of nearby support. Down nearly 3% on the day, the pair continued to slice through bid liquidity on exchange order books.

    To avoid a deeper slide, price must stay above $108,000. The next supply zone sits at $111,000 – $112,000, and the near-term test is whether $105,000 holds.

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    chloe

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