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<p>Bitcoin dropped below $110,000 on Thursday, extending its monthly decline to over 5%, according to data from CoinMarketCap.</p>
<p>The flagship cryptocurrency is now trading around $109,480, down sharply from its early October highs above $125,000. The move follows a failure to hold key technical support levels, signaling rising bearish momentum.</p>
<p>According to CoinMarketCap data, Bitcoin’s market capitalization stands at $2.18 trillion, with 24-hour trading volume dropping over 11% to $71.54 billion. The current RSI at 32.98 suggests the asset has entered oversold territory, historically a region where short-term rebounds are common, though not guaranteed.</p>
<p><img loading="lazy" src="https://www.ethnews.com/wp-content/uploads/2025/10/Screenshot-2025-10-16-at-18.42.40.png" alt="" width="2292" height="1724"></p>
<h2 id="technical-breakdown-bears-in-control-but-relief-bounce-possible">Technical breakdown: Bears in control, but relief bounce possible</h2>
<p>On the technical side, Bitcoin has broken below both its 7-day SMA ($114,295) and 30-day SMA ($116,048), reinforcing the bearish bias. The 61.8% Fibonacci retracement level ($112,840) failed to hold, leaving the 78.6% retracement at $109,208 as the next key support to watch.</p>
<p>Analysts note that if Bitcoin holds above this level, it could stage a short-term recovery toward $112,800–$113,000, but a deeper drop remains possible if selling pressure persists. A close above $112,840 would be required to invalidate the current bearish structure and restore near-term momentum.</p>
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<h2 id="market-sentiment-remains-cautious">Market sentiment remains cautious</h2>
<p>TradingView data shows intensified volatility as BTC’s price action struggles to stabilize around $109K. Many traders are looking to see whether institutional demand will reappear near this critical support zone.</p>
<p>Despite the pullback, Bitcoin remains up significantly year-to-date, continuing to mirror its typical pre-halving cycle behavior. For now, technical traders are watching closely to see if this oversold condition can fuel a relief rally, or if the next leg lower will confirm a deeper retracement below $109K.</p>
<p>The post <a href="https://www.ethnews.com/bitcoin-slips-below-110000-bearish-structure-deepens-traders-eye-critical-support-zone/" rel="noopener noreferrer nofollow">Bitcoin Slips Below $110,000: Bearish Structure Deepens, Traders Eye Critical Support Zone</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Bitcoin Slips Below $110,000: Bearish Structure Deepens, Traders Eye Critical Support Zone

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