Bitcoin's price has declined by 2.4% in the last 24 hours and 6.2% over the past week, with on-chain data indicating a possible further drop. The Net Unrealized Profit/Loss (NUPL) metric has decreased to 0.47, its lowest since April 8, 2025, suggesting market weakness. Additionally, a bearish crossover is forming on the daily chart as the 50-day EMA crosses below the 100-day EMA, signaling increased short-term selling pressure. If Bitcoin breaks the 0.786 Fibonacci retracement level at $106,300, it could fall to $103,500. Conversely, a strong close above $111,400 would be needed to reverse the current bearish trend and signal a potential recovery.