Bitcoin Crashed 8% After Its New $124k ATH—Could $100k Be Next to Fall?

Bitcoin dropped 8 % after hitting $124,500. Discover why $100 k support could break and how macro tailwinds may spark the next rally.

Fresh off a record-shattering $124,500 print, PRIMARY KEYWORD has peeled back 8 % in just four days. Charts now whisper about a deeper slide—possibly all the way to $98 k—before the next leg up. Whether you’re HODLing since 2021 or eyeing your first satoshi, this pullback is the gut-check moment everyone hoped would never come.

Why $100 k Is Suddenly on the Chopping Block

The daily chart flashed a textbook RELATED KEYWORD 1 rising-wedge break last week. Veteran trader Captain Faibik points to $110 k–$112 k as the first major support shelf; lose that zone and the next stop becomes $105 k–$108 k. If sellers keep piling in, a wick to the psychological $98 k–$100 k range is on the table by September—an almost 20 % haircut from the recent high.

Deja Vu: 2021’s Double-Top Ghost

Zoom out and the weekly close looks eerily similar to the 2021 double-top that preceded a brutal 77 % collapse. A repeat pattern would drag price toward the 50-week moving average near $94,750. Of course, history rhymes—it rarely repeats verbatim—but the visual alone is enough to trigger stop-loss cascades.

Whales Are Dumping—Or Are They?

Glassnode data shows the number of addresses holding 10 k+ BTC just hit a yearly low, while wallets in the 1 k–10 k tier have also thinned. Translation: big players locked in profits at the peak. Yet the same data reveals that long-term holders (coins dormant >155 days) barely budged. The tug-of-war between profit-takers and die-hard believers sets the stage for RELATED KEYWORD 2 volatility fireworks.

This Time, the Fed Might Be on Crypto’s Side

Unlike 2021’s tightening cycle, CME FedWatch now prices in a 25-basis-point rate cut for September. Add steadily rising global M2 money supply, and some desks pencil in a rebound to $132 k—or even $170 k in blue-sky scenarios. In short, the macro backdrop could cushion any technical washout.

3 Quick Moves for the Dip

Layer bids between $105 k and $100 k instead of one giant buy order.
Set alerts on the 4-hour EMA-50; reclaiming it would invalidate the bearish breakout.
Stash stablecoins on a hardware wallet—cold storage beats exchange risk during wild swings.

Are you buying this dip or waiting for a deeper flush? Drop your plan—or your stop-loss level—in the comments below.