Analyst: $100,000 is the next key support level for Bitcoin, and further declines could trigger more selling and increase market volatility

According to The Block, Kronos Research Chief Investment Officer Vincent Liu stated, "The decline in Bitcoin is mainly due to profit-taking and a large number of long positions being liquidated after failing to regain the $107,000 resistance level."

He pointed out that Bitcoin's brief rebound was driven by the U.S. Senate's passage of a government funding bill, which boosted market risk appetite. However, this was not enough to offset the pressure from profit-taking, leveraged liquidations, and ongoing technical weakness. Vincent Liu noted, "The rebound brought by macro positives quickly faded." He indicated that $100,000 is the next key psychological support level, and "further declines could trigger more selling and exacerbate market volatility."