Analyst: Bitcoin May See a 'Deeper Pullback,' Testing Liquidity Region Below $100,000

BlockBeats News, June 3rd, according to Cointelegraph, the key support level for the Bitcoin price remains at $100,000. Since breaking above $100,000 on May 8th, Bitcoin has remained steadily above this key level for over three weeks. This price has become a core point of interest for traders and has not experienced a significant pullback test recently. Michael van de Poppe, the founder of MN Capital, pointed out that Bitcoin is currently around $104,300 and may further retreat after being rejected at the $106,000 level, then reaccumulate upward momentum. $100,000 still remains a key support level to closely monitor.

An analysis shared by analyst CrypNuevo showed that Bitcoin failed to turn the $106,000 resistance level into support. He stated: "Therefore, we are likely to fall back to the $100,000 psychological level and test the 150-day moving average."

Renowned analyst AlphaBTC predicted that if Bitcoin loses the $100,000 support, a deeper pullback may occur, with the price potentially dropping to $90,000. He noted: "As this larger-scale pullback unfolds in early June, BTC is likely to consolidate sideways for a period as the market awaits more data and the outcome of the Federal Reserve's June 18th meeting."