Bitcoin’s price took a dip after failing to break through $110,000. It’s currently hovering around $107,000, reflecting some uncertainty in the crypto market. But don’t count Bitcoin out just yet! It’s still close to its all-time high, and one analyst thinks a key support level could trigger a price surge.
A Crucial Support Level: $105,000
Crypto analyst Burak Kesmeci believes $105,799 is a crucial support level for Bitcoin. He’s looking at something called “Realized Price UTXO Age Bands.” Basically, this helps figure out the average price at which Bitcoin holders bought their coins, based on how long they’ve held them.
Kesmeci is focusing on the 1-week to 1-month age band. This shows what short-term holders are doing, giving a good sense of overall market sentiment. This band acted as strong support around June 1st, 2025, and it’s currently sitting around $105,799.
The idea is that if Bitcoin drops to this level, short-term holders who bought around that price will likely buy more to avoid losses, creating a support floor and pushing the price back up. As long as Bitcoin stays above $105,799, Kesmeci expects further price increases.
Bitcoin’s Current State
At the time of writing, Bitcoin is slightly above $108,100, down over 1% in the last 24 hours. It hit a weekly high of $110,300 and a low of around $105,430, essentially ending the week where it started. It’s only up about 1% for the week.