Bitcoin Cycle Top May Be In: $100K Support Faces Test

⚡ KEY TAKEAWAYS

Bitcoin is hovering near the $100K mark as traders debate whether the current correction signals a deeper cycle shift.
Analysts are divided, with some pointing to weakening momentum and liquidity clusters suggesting short-term indecision.
Key support at $98K–$100K and resistance near $110K–$117K will likely determine Bitcoin’s next major move.

Bitcoin (BTC) is holding critical support near $100K as analysts warn of a potential macro downtrend forming, with several key indicators, from liquidity heatmaps to dominance charts, painting a mixed picture: local strength on low-timeframes, but early signs of exhaustion on higher-timeframes.

Bitcoin Holds Ground, But Cycle Caution Grows

As it happens, Bitcoin’s latest pullback has brought it into a critical juncture. Cryptocurrency trading expert Ali Martinez has noted that if historical cycle patterns repeat, BTC’s top may have already occurred on October 26, signaling the possible start of a macro downtrend similar to prior cycle peaks.

*Bitcoin price performance since cycle low. Source: Ali Martinez*

Meanwhile, fellow crypto analyst Matthew Hyland has highlighted weakening momentum in BTC dominance, with the weekly Stochastic RSI curling downward, which is often a precursor to altcoin outperformance.

*Bitcoin market cap dominance and Stochastic RSI. Source: Matthew Hyland*

At the same time, his liquidity map shows significant clusters between $98K – $99K (support) and $111K – $117K (resistance), implying Bitcoin could range before choosing direction.

*Bitcoin liquidation heatmap. Source: Matthew Hyland*

On-chain and derivatives data support this indecision. Liquidation heatmaps indicate dense liquidity just below the $100K level, and crypto expert CryptoJelleNL has confirmed that Bitcoin had successfully closed the CME gap while forming a higher low.

*Bitcoin price movement analysis. Source: CryptoJelleNL*

For the time being, Bitcoin is changing hands at the price of $104,950.30, which indicates a decline of 0.35% in the last 24 hours, a 3.08% increase across the previous seven days, and an accumulated loss of 8.66% on its monthly chart, according to the most recent data.

*Bitcoin price 7-day chart. Source:* *CoinMarketCap*

All things considered, holding $100K and reclaiming $110K remain critical for the flagship decentralized finance (DeFi) asset. If bulls manage that recovery, the broader uptrend could resume, but if not, the market may be entering its first sustained correction of this cycle.