BTC fails to rebound, may retest $102K

Bitcoin could retest the $102,000 level it reached on Binance last week after failing to rebound, Cointelegraph reported, citing multiple analysts. Crypto influencer Ted Pillows said that BTC appears to have failed its rebound on the four-hour chart and is moving to test the lows around $102,000. He added that while the bull market would remain intact if this level holds as support, a monthly close below this price would be concerning. In contrast, trading firm QCP Capital analyzed that despite weekend volatility, the correlation between BTC and gold has risen to over 0.85. The firm also pointed to continued inflows into spot ETFs, which it said are creating a favorable environment for a rally. However, QCP Capital noted that it remains uncertain whether BTC will maintain its narrative as a form of digital gold.