Bitcoin’s Breaking Point: Why Price Needs To Stay Above $111,500

At the time of writing, Bitcoin trades at $112,960, holding slightly above the $112,500 support level. Within the last 24 hours, BTC slipped from $115,100 and touched $111,478 during its intra-day low. This volatile action underscores the importance of maintaining current levels.

The crypto king has so far managed to stay above $111,400, the STH cost basis. By securing $112,500 as support, Bitcoin has the potential to bounce back toward $115,000, which would help prevent a bear market structure from taking shape.

However, any renewed selling pressure could drag Bitcoin through $112,500 and toward the $110,000 support. If that occurs, the bullish thesis would be invalidated, and BTC could slide further, officially marking the onset of bearish momentum.