Bitcoin Price Crashes! Will BTC Drop Below $100K Today?

Bitcoin is on the verge of slipping below the crucial $100,000 psychological mark, trading at $100,992.72 as of writing on Thursday, June 5. The world’s largest cryptocurrency is down more than 4% over the last  24hrs. 

The market cap is retreating to $2 trillion, according to CoinMarketCap data. The latest price chart shows an accelerated downward move that began late on June 5, with volume surging past $54 billion—a 21% spike suggesting heavy liquidation or panic sell-off.

Source: CoinMarketCap

Despite a community sentiment still leaning bullish (82% positive), the current technical trend reflects bearish momentum, especially after failing to hold the $104K-$105K consolidation zone.

The ongoing downtrend is part of the crypto market crash that has already wiped off $595 million in liquidations.