Bitcoin (BTC) has continued its downward spiral as technical indicators affirm bearish momentum for the flagship cryptocurrency. Within the final 24 hours, Bitcoin dropped from an intraday peak of $111,420.48 to the $108,000 vary, leaving traders questioning how low it might drop.
Analyst predicts $103K as potential Bitcoin backside
In keeping with an replace from Michaël van de Poppe, a famend crypto analyst, Bitcoin’s short-term pattern is more likely to stay bearish. He believes that the market is in a corrective part and may keep on the downward path for some time until the value hits close to $103,000.
Van de Poppe considers this degree a potential “backside out” level for BTC. He insisted that the present ranges present weak spot and point out that the correction is just not completed but. To exit the present part, the analyst famous that Bitcoin has to interrupt above the $112,000 resistance degree.
It is fairly clear.
Development is barely downwards at this level, and #Bitcoin is seeking to get itself right into a backside of the correction.
I do not assume we’re achieved but.
For me, being achieved can be to interrupt above $112K, the extent the market clearly rejected on yesterday and fell… pic.twitter.com/RzmMuycqjD
— Michaël van de Poppe (@CryptoMichNL) August 30, 2025
This value degree has confirmed to be vital as Bitcoin confronted rejection right here. It signifies that sellers are nonetheless in management, a growth that might forestall upward momentum for the asset.
Apparently, a Bitcoin whale reportedly raked in $4 billion in revenue throughout the final 48 hours. Such profit-taking strikes might stand in the way in which of a fast rebound, and when it occurs, the momentum can be weak, as highlighted by van de Poppe.
Institutional demand for BTC affords silver lining
As of this writing, the Bitcoin value was buying and selling at $108,576.49, representing a 1.23% decline over the past 24 hours. Inside this time-frame, buying and selling quantity has climbed by 11.37% to $72.66 billion, signaling elevated exercise despite the plunge.
This is perhaps because of institutional demand, which VanEck identified lately. In keeping with the New York-based monetary big, many companies are stacking up on the coin with 638,617 BTC added this 12 months alone.
The determine has already flipped the 2024 whole of 120,290 BTC, representing a 5 occasions enhance thus far.
