The article discusses the recent drop in Bitcoin price to $99,381, representing a 1.95% decline in the last 4 hours. The market cap currently stands at $1.97 trillion, with a market cap-to-volume ratio of 2.03%. The trading volume has surged by 88.19% in the last 24 hours, indicating increased trader activity and potential market volatility. The number of Bitcoin wallets holding at least $100 has grown by 25% in the past year, surpassing 30 million, while the amount of Bitcoin held on exchanges has decreased to the lowest level in years. Bitcoin faces resistance at $104,680, and breaking above this level could signal a recovery towards $110,000. On the downside, the cryptocurrency is approaching a crucial support level at $98,000, and breaking below this could lead to further decline. The Relative Strength Index (RSI) suggests oversold conditions, indicating a possible price rebound if buyers regain control. Moving averages show a bearish crossover, signaling potential downside momentum in the short term. The Chaikin Money Flow (CMF) indicates weak capital inflows, but the declining supply on exchanges supports a long-term bullish outlook. Traders should monitor the $98,000 support level and watch for a recovery above $100,000 or a break below $98,000 to assess market confidence and downside risk.



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