Critical Level for Bitcoin: Below 95 Thousand Dollars Is Risky

Bitcoin's price has fallen below the $100,000 level in the last 24 hours, causing investor morale to weaken, and analyst James Check has pointed out a crucial point regarding the direction of the market. According to Check, the $95,000 level could signal the end of the current bull cycle. Reaching this price could trigger the beginning of a bear market.

On-chain analyst James Check emphasized that currently, 57% of all capital invested in Bitcoin is at a loss at the $100,000 level. This situation clearly reflects the atmosphere of fear among investors. Check noted that the current losses are approximately around $20 billion, which corresponds to only 3% of the total market cap. However, if the price falls below the $95,000 level, the losses could reach 10% of the market cap, which could serve as the beginning of significant downturns seen in the past.

James Check addressed the current uncertainty in the markets, stating, "The current market conditions are among the hardest I have ever commented on in my career." He expressed that they do not want the price to drop below $95,000, but he believes the bulls will put up a serious fight to defend this level.

Meanwhile, Coinglass’s Fear and Greed Index has also fallen to 24, entering the "Extreme Fear" zone. Historically, these levels have been associated with short-term bottom formations. During the tariff panic in April, the index dropped to 21, and Bitcoin fell to $75,000 at that time. In the current situation, the $95,000 level stands out as not only a technical support but also a critical threshold that will determine the fate of the bull cycle for Bitcoin investors.