Bitcoin Falls Below $110K as Analysts Eye Potential Deeper Pullback
Bitcoin (BTC) dropped below $110,000 on Thursday, ending a modest rebound and raising concerns about further downside before a stronger fourth quarter. BTC fell 2.2% over 24 hours to $109,500, retracing roughly half of the weekend’s gains after peaking at $112,600 on Wednesday.
Other major cryptocurrencies also declined, with Ether (ETH), Solana (SOL), and Cardano (ADA) all down more than 3%. Corporate BTC holders mirrored the market weakness: Strategy (MSTR) slipped 3.2%, MetaPlanet (3355) fell 7%, KindlyMD (NAKA) dropped 9%, and Ether-focused vehicles BitMine (BMNR) and SharpLink Gaming (SBET) lost 8–9%.
Analyst outlook
Bitfinex analysts highlighted that BTC has entered its third consecutive week of retracement from the August all-time high of $123,640. Historical bull-market corrections average around 17% peak-to-trough, suggesting BTC is nearing typical drawdown levels. The short-term holder realized price near $108,900 serves as critical support; failure could open the way to a deeper retracement toward the $93,000–$95,000 zone.
LMAX Group strategist Joel Kruger remains cautiously optimistic, noting September often serves as consolidation before a stronger fourth quarter, supported by ETF inflows, corporate treasury allocations, and regulatory tailwinds.
