- Bitcoin falls below $100K as short-term holders face growing pressure and MVRV data shows unrealized gains shrinking to just 3%.
- Arthur Hayes sees BTC’s dip as a macro-triggered reset, but technical charts reflect clear bearish momentum and persistent resistance.
- Bears dominate as Bitcoin breaks $104K support, with red candlesticks and rising volume confirming continued downward pressure.
BTC plunged from the big psychological barrier at $100,000, giving rise to renewed anxieties for short-term holders and market participants. According to Binance data, the coin was trading at $99,572.82 following a 2.49% decline in 24 hours. In fact, the asset has lost a total of 5.70% in the past seven days, equating to $6,021.20 in losses on a weekly basis. This downtrend indicates aggravated bearish sentiment and rising technical weakness.
Arthur Hayes, BitMEX co-founder, attributed this drop to macroeconomic shifts, calling it a sign of “money printers revving up.” He emphasized that Bitcoin is a safe haven during monetary debasement. However, current chart patterns suggest market stress. The five-day candlestick covering June 17–22 highlights sustained selling pressure.
Technical Breakdown Reveals Intense Bearish Momentum
Bitcoin began the week trading near $108,000 but faced rejection at that level. Prices consolidated between $104,000 and $106,000 from June 18–20. On June 21, a sharp sell-off broke the $104,000 support zone. The move sent BTC tumbling toward $99,500, confirming a short-term bearish structure.
Moreover, red candlesticks dominated, forming lower highs and lower lows. This pattern signaled consistent downside pressure. Trading volumes rose in parallel with the sell-off, confirming active participation during the decline. Bears defended the $105,000 resistance zone, preventing any meaningful rebound.
Short-Term Holder Stress Builds as MVRV Declines
Glassnode’s latest data supports the weakening trend. Since April, short-term holders have found support at their realized price. However, the Short-Term Holder MVRV has now dropped to just 0.03. This metric indicates that recent buyers have only 3% unrealized gains, suggesting rising stress levels.
Source: Glassnode
Bitcoin’s price action from December 2024 to June 2025 reflected sharp volatility phases. After rallying from $95,000 to $110,000 in January, BTC corrected heavily in February. Prices bottomed near $78,000, pushing MVRV into negative territory. Consequently, short-term holders endured losses through March.
Recovery began in April, with BTC returning to $95,000. May and June brought renewed strength, but downside risk remains elevated. Currently, Bitcoin trades around $101,200. Market participants monitor key technical levels as the $100,000 support zone faces persistent tests.
