Here's a revised version of the title that is more engaging and SEO-friendly, while keeping it relevant and professional, and under 160 characters: "Bitcoin Price Plunges: Is $90,000 the New Bottom for BTC?

Bitcoin Stalls at $110K: Is the Bull Run Running Out of Steam?

Momentum Wanes as Bitcoin Struggles to Break Key Resistance

For over a month, Bitcoin has held firmly above the $100,000 mark, a bullish feat in itself. However, the inability to convincingly break above $110,000 is starting to raise concerns. After reaching a peak just shy of its all-time high, Bitcoin has retraced to around $107,900, stalling at a significant resistance level and potentially losing momentum.

Technically, the leading cryptocurrency remains above key moving averages, indicating an overall uptrend. But recent price action shows hesitation near resistance, and trading volume has been steadily declining. This could signal a shift towards a long-term consolidation range between $100,000 and $110,000, rather than a breakout.

Fundamental Factors Point to Waning Momentum

The fundamental strength of Bitcoin, as measured by the Swissblock Bitcoin Fundamental Index (BFI), is also concerning. The BFI, which integrates metrics for network growth and liquidity, has been hovering in the neutral zone, failing to break above the 60 level often considered the threshold for healthy momentum.

Without a noticeable increase in inflows or network activity, Bitcoin lacks the necessary fundamental momentum to overcome resistance and enter a new price discovery phase. If this lack of momentum persists, traders and institutions may start taking profits, potentially causing the price to fall below $105,000 and even $100,000.

Potential Downside Scenarios and Key Support Levels

In a market correction scenario, Bitcoin could retrace towards the 200-day EMA around $98,000 or, in a more extreme case, down to $90,000 if the psychological $100,000 support were to be breached. While Bitcoin has displayed resilience, the current red flags suggest that the upcoming weeks will be crucial in determining the asset's medium-term trajectory.

Investors and traders will be closely watching for signs of renewed inflows and network growth to fuel a potential breakout above $110,000. Without these catalysts, the Bitcoin bull run may be running out of steam, potentially leading to a period of consolidation or even a deeper correction.