Bitcoin has slipped below $97,000 once again, triggering fears across the crypto market as more than $1.1 billion in long positions were liquidated within 24 hours. This marks the third time this month that Bitcoin has breached this critical level, raising concerns over potential further declines.

With sentiment weakening fast, the key question dominating the market is: How low can Bitcoin really fall from here?

Analysts Identify Two Key Danger Zones

Crypto analyst Axel Adler Jr. highlighted two critical support levels that could determine Bitcoin’s next move:

1. $87,000 – Conservative Support:
   Using a “conservative Bitcoin valuation model” based entirely on on-chain activity, Adler identified $87K as a strong, fundamentally backed support level. His model, which scores 95/100 in back testing, explains 87% of Bitcoin’s price behavior historically.
2. $74,000 – Panic Level:
   The second support level, often referred to as the “panic level,” represents a major emotional threshold. A drop to this zone could trigger a deeper, fear-driven sell-off across the market.

Repeating Bear Signals From History

Analyst Ted pointed out that Bitcoin’s current price action mirrors patterns seen in past bear markets — in 2014, 2017, and 2021.

• In each case, the downturn accelerated after a death cross, when the short-term moving average falls below the long-term moving average.
• Ted warns that the same pattern is forming in 2025, signaling the possibility of another significant correction.

MicroStrategy Sells Bitcoin for the First Time in Two Years

Adding to market panic, MicroStrategy, led by Michael Saylor, has reportedly sold 33,000 BTC worth $3.2 billion — its first sale in two years.

• On-chain data shows that the company is executing small, incremental sales every few minutes.
• MicroStrategy has historically been one of Bitcoin’s biggest corporate believers, and this sudden shift to selling has raised serious concerns among investors.

What’s Next for Bitcoin?

Analysts stress that for Bitcoin to avoid a deeper correction, it needs to reclaim the $100K–$105K zone soon.

• Failure to do so could force a test of the $87K support, and if panic accelerates, the $74K panic level could come into play.

As of now, Bitcoin is trading around $97,100, reflecting a 5.8% drop over the past 24 hours.

Investors are watching closely, as the coming days could define the short-term trajectory of the market.