<ul data-eligibleForWebStory="true"><li>Bitcoin's recent pullback below a key level has raised concerns about the sustainability of its recent upside momentum.</li><li>The move above $106,000 was seen as a critical test, and slipping below it indicates a speculative-driven breakout rather than structural demand.</li><li>The next significant support level to watch is at $100,437, with a potential for deeper downside moves if this level is breached.</li><li>Ethereum's markets have shown unusual behavior with a surge in open interest but a collapse in funding rate, suggesting rising speculative activity without strong conviction.</li><li>A firm's $425 million Ethereum treasury allocation coincided with a 70% stock plunge, revealing market fragility.</li><li>The recent breakout in Bitcoin may have been influenced by hype around Circle's $24 billion IPO announcement, but the market lacks fundamental drivers for sustained rallies.</li><li>Traders are advised to be cautious as BTC trades below the breakout level and Ethereum displays signs of speculative dislocation.</li></ul>

Here’s the Support Level That Matters Now for Bitcoin

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