By Chris Hollingworth 
Bitcoin supporters are showing strong resilience in protecting the pivotal $100,000 support threshold. This level is crucial as a breach beneath it could trigger intensified selling pressure, potentially causing the price of BTC to drop below $87,800.
The $100,000 level has emerged as a key psychological and technical support level for Bitcoin in recent trading sessions. Market participants are closely monitoring this level, considering its significance in determining the short-term direction of the digital asset.
A sustained defense of the $100,000 support level by Bitcoin bulls indicates their determination to prevent further downside movement. However, a failure to hold this level could pave the way for increased selling activity, leading to a potential decline in the price of Bitcoin to the $87,800 mark.
Investors and traders are advised to closely monitor the price action around the $100,000 support level as it could offer valuable insights into the near-term trajectory of Bitcoin. The cryptocurrency market remains dynamic and sensitive to various factors, making it essential for market participants to stay informed and exercise caution in their trading decisions.
