Bitcoin slid again on Friday after a cluster of on-chain signals indicated a weakening of the market’s short-term structure. Several realized-price groups that previously provided a steady footing now sit above the spot price, acting as resistance as the asset drifted toward the $102,000 region. Traders shifted their attention to deeper support areas near $87,000 and $74,000 as the week closed with wider questions about market direction.

Short-Term Structure Weakens

Bitcoin spent the past several days moving inside a narrow band while pressure built from both sides. Data from CryptoQuant showed that the 1–3 month and 3–6 month holder groups lifted above the spot, a sign that short-term buyers now sit at a loss. Moves like this often show shrinking confidence within faster trading cohorts.

The price also dropped under the 111-day and 200-day moving averages. Once below those lines, the market found little relief, and attempts to reclaim them faded quickly. Those levels tend to define medium-term trend direction, and losing them tightens the overall picture.

Price action around the $100,000 range grew unstable as buyers stepped back. Sellers pushed whenever the market attempted small recoveries.

Market Turns Attention to $87K and $74K

As selling continued, traders shifted their focus to the following significant levels below. The first sits near $87,000. That area held several realized-price clusters earlier in the cycle and saw firm buying during past retracements. It remains the closest zone with notable demand.

A deeper level sits near $74,000. That region produced sharp reactions in earlier corrections and still carries heavy liquidity. Many traders kept both areas on their charts as the market slipped through the week.

Bitcoin traded around $95,900 during the latest session. The asset fell 3.5% over the past 24 hours and dropped 5.5% on the week. Its market value stood at $1.93 trillion, and trading volume reached $127 billion.

Distribution Signals Resurface

Several analysts pointed to a price structure that resembles a Wyckoff Distribution pattern. In that model, Bitcoin’s move toward $122,000 fits the description of a buying climax. Following that high, the market attempted several upward pushes but struggled to establish new highs, indicating a gradual loss of momentum.

The drive above $126,000 in early October now appears to match an ‘upthrust’ within the pattern. That move often marks a final stretch of enthusiasm before the market tips into weakness. When Bitcoin then slipped below $110,000, price action entered the markdown stage, where supply pushes the market lower.

Under that framework, the pattern suggests a $86,000 drawdown. Traders kept this level in view as volatility increased through the week. It led many to ask a straightforward question: Is this a short reset or the start of a more profound cycle shift?

CryptoQuant noted that support levels above the spot no longer remain. Several important metrics now sit overhead, including multiple realized-price bands that previously helped stabilize pullbacks.

Mixed Signals on Trend Direction

Some analysts pointed to areas where the trend still holds. CryptoQuant’s Ki Young Ju noted that Bitcoin maintains a broader structural uptrend while trading above $94,000, the average cost for mid-term holders. A clean break below that figure could open the door to more pressure.

Bitwise CEO Hunter Horsley noted that Bitcoin may have already spent six months in an internal bear stretch and could be nearing the end of that period, with long-term fundamentals still in place.

Bitcoin moved near $102,000 earlier in the morning before sliding toward $95,900. Traders watched realized-price bands, moving averages, and liquidity zones closely as the market searched for direction.

Conclusion:

Bitcoin continues to lose ground as major support zones shift into resistance, and deeper levels near $87,000 and $74,000 draw the attention of traders. Analysts track weakening market structure while key realized-price groups stay above spot. Traders may watch $94,000 closely as a critical line for trend strength.

Related: Bitcoin Price Holds at $103,000 as ETF Inflows Boost Market Confidence