Bitcoin must maintain its price above $108,000, or it risks entering a bearish downtrend, according to crypto analyst Daan Crypto Trades. He emphasized that a drop below this level could push Bitcoin back under $100,000, potentially reaching as low as $96,000. Bitcoin recently peaked at $110,498 but has retraced to $109,250, which is approximately 2.5% below its all-time high of $111,970. If Bitcoin falls to around $99,445, roughly $2.7 billion in long positions could be at liquidation risk. While some analysts remain optimistic about Bitcoin's upward trajectory, Daan pointed out that the current consolidation phase seems different from previous cycles. He noted that without a clear breakout, there's uncertainty about extending the uptrend. Other analysts, such as Miles Deutscher, express a bullish outlook despite potential resistance at $110,000, while Markus Thielen anticipates that Bitcoin could rise as high as $116,000 by the end of July due to factors such as increased ETF inflows and reduced supply on exchanges.

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