Skip to content

Will Bitcoin crash below $100k as network activity nosedives 45%?

Will Bitcoin crash below $100k as network activity nosedives 45%?
Paul L.

As Bitcoin (BTC) consolidates around the $107,000 mark, on-chain data is showing signs of fatigue, suggesting a potential price move may be imminent.

Specifically, the number of large Bitcoin transactions exceeding $100,000 has decreased by 45.3% over the past month. The transactions peaked at around 30,840 on May 22 but fell to just 16,860 by June 29, according to data from the crypto analytics platform IntoTheBlock.

Bitcoin whale transaction data. Source: IntoTheBlock

The steep decline often signals reduced activity from whales and institutions. This drop indicates potential weakening confidence and thinning liquidity, which increases the risk of Bitcoin slipping below the key $100,000 support level.

If large-scale buying continues to wane, the market could face deeper volatility unless new demand emerges.

Capital inflow into crypto plunges $20 billion 

At the same time, broader cryptocurrency market trends echo this caution. Capital inflows into cryptocurrencies have declined by more than $20 billion, suggesting a shift in investor sentiment. 

Glassnode data shows the net position change in realized value, a measure of capital entering or exiting the market, dropped from nearly $55 billion in late May to $34 billion by June 28.

Crypto market realized value change. Source: Glassnode

This drawdown highlights a slowdown in momentum across major assets, including Bitcoin and Ethereum (ETH), both of which had experienced steady accumulation earlier in the second quarter.

Bitcoin price analysis 

Currently, Bitcoin’s key support level is at $105,000. Holding above this level is critical for any attempt to reclaim $110,000 and push toward new all-time highs. As of press time, BTC was trading at $106,972,  down 0.6% on the day and 0.3% for the week.

Bitcoin seven-day price chart. Source: Finbold

Technically, Bitcoin remains in a bullish posture. It’s trading above both its 50-day simple moving average ($105,970) and 200-day SMA ($87,717), a sign of strength. 

Meanwhile, the 14-day RSI stands at 58.77, indicating that momentum remains intact without signaling overbought conditions.

Overall, Bitcoin’s setup appears constructive, with key moving averages providing support and technical indicators still favoring the bulls.

Featured image via Shutterstock

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users worldwide
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Latest posts

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Trade, Swap & Stake Crypto on Uphold

Buy, sell, and swap crypto. Stake crypto, earn rewards and securely manage 300+ assets—all in one trusted platform. Terms apply. Capital at risk.

Get Started

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.