BTC Drops Below Strong Support, Weak Dip Buying Seen

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BTC's major support is gone, but self-custody activity is rising. Buyers appear active. Is it active enough to stop further bleeding?

As markets remained choppy, Bitcoin (BTC) suffered a fresh decline of almost 3% on Tuesday as it fell below the critical support zone at $107,000, a major trading range that had remained intact for 130 days.

CryptoQuant noted that this failure could expose the market to further downside momentum.

Bitcoin’s Line of Defense Breached
According to the analysis, the established range between approximately $107,000 and $123,000 has served as the battlefield for buyers and sellers since mid-June, and price action reflected high vulnerability at the range floor. However, while the price continued to show weakness and remains under pressure near the bottom of this multi-month structure, on-chain data from Binance reveals a contrasting pattern that signals a rise in underlying demand.


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