Bitcoin's price could decline to between $96,500 and $100,000 if the $110,000 support level fails, according to recent analyses. The cryptocurrency recently dipped 4.65% to approximately $110,000, reflecting a broader market downturn following China's restrictions on five US companies. Historically, Bitcoin's $110,000 level has alternated between resistance and support, with previous failures leading to declines of 19% to 30%. Technical patterns, including a broadening wedge and the 50-week exponential moving average, suggest a potential target zone of $100,000 to $103,000. Additionally, Glassnode's MVRV Extreme Deviation Pricing Bands indicate a possible reversion to the mean band at $96,500 if Bitcoin continues to trade below its +0.5 standard deviation band. This scenario is seen as a mid-cycle reset rather than a full trend reversal, although a drop below $96,500 could risk a bear market with further declines to $74,000.