BTC could fall to $97K if it breaks below $108K, analyst says

As Bitcoin's price fluctuates below $110,000, one analysis suggests it could fall to $97,000 if it breaks below the $108,000 level. According to The Block, Timothy Misir, head of research at BRN, said that demand for BTC put options is increasing. He added that short-term holders are continuing to take profits after repeated failures to break through the $113,000 resistance level. Meanwhile, QCP Capital noted that the U.S. Consumer Price Index (CPI), scheduled for release tomorrow, is the only major indicator being published amid the government shutdown. The firm suggested that the result will likely determine the direction of BTC's price.