{"id":24748,"date":"2025-06-17T21:06:34","date_gmt":"2025-06-17T18:06:34","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-plummets-to-104000-as-analysts-outline-future-trajectory\/"},"modified":"2025-06-17T21:06:34","modified_gmt":"2025-06-17T18:06:34","slug":"bitcoin-plummets-to-104000-as-analysts-outline-future-trajectory","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-plummets-to-104000-as-analysts-outline-future-trajectory\/","title":{"rendered":"Bitcoin Plummets to $104,000 as Analysts Outline Future Trajectory"},"content":{"rendered":"<p>On June 17, the leading cryptocurrency rapidly lost ground, plunging from $108,000 to $103,500. Analysts anticipate a &#8220;big move&#8221; soon.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"453\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-06-17_20-10-20-1024x453.png\" alt=\"BTCUSDT_2025-06-17_20-10-20\" class=\"wp-image-260604\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-06-17_20-10-20-1024x453.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-06-17_20-10-20-300x133.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-06-17_20-10-20-768x340.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-06-17_20-10-20.png 1355w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/XQSQJA42\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>On the hourly chart, the coin recorded 13 consecutive red candles. At the time of writing, Bitcoin is trading around $103,900, having lost 3.8% in a day.\u00a0<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-06-17-v-20.11.59.webp\" alt=\"Snimok-ekrana-2025-06-17-v-20.11.59\" class=\"wp-image-260605\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n<p>The rest of the crypto market is also showing a decline. Ethereum fell from $2650 to $2480 \u2014 approximately 5%. Solana dropped below $150 (-6.6%), and XRP tumbled to $2.2 (6%).\u00a0<\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, the total volume of liquidations in the market reached $452 million in a day. The majority, amounting to $365 million, was in short positions.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"356\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/ETH-69-1024x356.png\" alt=\"ETH-69\" class=\"wp-image-260606\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/ETH-69-1024x356.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-69-300x104.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-69-768x267.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-69.png 1107w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: Coinglass.\u00a0<\/figcaption><\/figure>\n<p>Despite the correction, the cryptocurrency fear and greed index rose from 61 to 68 points in a day.\u00a0<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/D-Fear-Greed-Index.webp\" alt=\"D-Fear-Greed-Index\" class=\"wp-image-260607\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"http:\/\/xn--lternative-yqi.me\">\u0410lternative.me<\/a>.\u00a0<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Expert Observations<\/strong><\/h2>\n<p>According to trader and analyst known as Skew, the market is &#8220;handling&#8221; the downturn well.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a><br \/>So far this has been pretty well managed by the market<br \/>\u2014 no uptick in market vol yet<br \/>\u2014 avg volume<br \/>\u2014 no panic positioning yet<\/p>\n<p>For a 3% or so pullback so far market isn&#8217;t panicked yet, although on LTF there&#8217;s clear hedge bias<\/p>\n<p>Previous dips were 5% or so but had aggressive\u2026 <a href=\"https:\/\/t.co\/TD3f7E5wdO\">pic.twitter.com\/TD3f7E5wdO<\/a><\/p>\n<p>\u2014 Skew \u0394 (@52kskew) <a href=\"https:\/\/twitter.com\/52kskew\/status\/1934964341746663428?ref_src=twsrc%5Etfw\">June 17, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He noted that there is currently no increase in volatility, trading volume remains moderate, and there are no panic sales.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Previous declines were around 5% [the current one, by his calculations, reached 3%], but were accompanied by aggressive short positions, spot sales, and a rise in volatility with momentum in volumes. This means that the big move has not yet occurred and is brewing,&#8221; the expert explained.\u00a0<\/p>\n<\/blockquote>\n<p>Trading resource Material Indicators <a href=\"https:\/\/x.com\/MI_Algos\/status\/1934985307016892914\">highlighted<\/a> &#8220;manipulations&#8221; in Bitcoin&#8217;s order book and the increased likelihood of <span data-descr=\"intentional manipulation of market prices by placing and then quickly canceling large buy or sell orders\" class=\"old_tooltip\">spoofing<\/span>.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"599\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Gtpy4DpWYAAcIuf-1024x599.jpg\" alt=\"Gtpy4DpWYAAcIuf\" class=\"wp-image-260608\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Gtpy4DpWYAAcIuf-1024x599.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Gtpy4DpWYAAcIuf-300x176.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Gtpy4DpWYAAcIuf-768x449.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Gtpy4DpWYAAcIuf-1536x899.jpg 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Gtpy4DpWYAAcIuf.jpg 1576w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin order book. Data: X.\u00a0<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If the price falls below $105,000, prepare for a rug pull to $104,000,&#8221; the authors warned.<\/p>\n<\/blockquote>\n<p>Analyst and MN Trading founder Micha\u00ebl van de Poppe suggested the downward momentum might continue. Losing $105,000 would trigger a &#8220;liquidation game,&#8221; leading to a further market drop, he believes. \u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> starts to lose the level, so there is a very likely case that we&#8217;re going to accelerate with the downwards momentum.<\/p>\n<p>Sub $105,000 would push the liquidation game into play and then we&#8217;ll likely start falling deeper (and end the correction).<\/p>\n<p>People might suggest its\u2026 <a href=\"https:\/\/t.co\/Ih5YnjL3lg\">pic.twitter.com\/Ih5YnjL3lg<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1934941971207852473?ref_src=twsrc%5Etfw\">June 17, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;People might suggest the cause is [the conflict] in the Middle East, but ultimately it looks like a fairly standard correction ahead of the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Fed<\/span> meeting on the key rate,&#8221; he clarified.<\/p>\n<\/blockquote>\n<p>Back in QCP, <a href=\"https:\/\/forklog.com\/en\/news\/qcp-predicts-bitcoins-resilience-amid-global-uncertainty\">highlighted<\/a> the benefits of global uncertainty for the leading cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 17, the leading cryptocurrency rapidly lost ground, plunging from $108,000 to $103,500. Analysts anticipate a &#8220;big move&#8221; soon.\u00a0 Hourly chart of BTC\/USDT on Binance. Data: TradingView. On the hourly chart, the coin recorded 13 consecutive red candles. At the time of writing, Bitcoin is trading around $103,900, having lost 3.8% in a day.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1145],"class_list":["post-24748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"43","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24748"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24747"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}