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Bitcoin is still circling around $102,000, and not everyone’s convinced it means anything. DonAlt — the trader known for spotting XRP tops and bottoms long before they show on most screens — is not buying it. "I just don’t see it," he wrote on X, adding he would "wait until $110,000 is reclaimed" before even thinking about a bottom. His fallback condition: "If we nuke sufficiently."
The charts support his stance. Bitcoin’s one-hour structure shows a hanging midrange with no volume support under $101,000. A clean rejection from $105,000 earlier this week confirmed what he calls "a market pretending to recover."
The real problem lies beneath: if the price drops below $100,000, there is barely any support until the next high-liquidity cluster at $94,000-$95,000, which fueled the breakout in August. A drop into that range would be what he describes as "sufficiently nuked."
Saylor and Strategy at risk?
DonAlt’s chart also drew a parallel with Strategy (MSTR), Saylor’s public Bitcoin vehicle, which is now sliding after losing support at $240. The next structural shelf sits almost 55% lower, around $109.
This means that if Bitcoin cannot hold six figures, MSTR’s treasury leverage cuts both ways. The firm’s position of 641,205 BTC, worth approximately $65 billion, still shows a gain on paper. However, one more leg down would erase most of that buffer.
Upside exists, but it needs confirmation. Reclaiming $110,000 with strength would flip the market back to accumulation, triggering short covers toward $118,000-$120,000. Until then, the charts appear fragile, traders remain defensive and even the loudest bulls admit that they just do not see it.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team