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 may 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 would possibly keep on the downward path for some time until the value hits close to $103,000.
Van de Poppe considers this degree a attainable “backside out” level for BTC. He insisted that the present ranges present weak spot and point out that the correction shouldn’t be 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.
Pattern is barely downwards at this level, and #Bitcoin is trying to get itself right into a backside of the correction.
I do not assume we’re performed but.
For me, being performed could 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 important as Bitcoin confronted rejection right here. It signifies that sellers are nonetheless in management, a growth that would forestall upward momentum for the asset.
Apparently, a Bitcoin whale reportedly raked in $4 billion in revenue inside the final 48 hours. Such profit-taking strikes may stand in the way in which of a fast rebound, and when it occurs, the momentum could be weak, as highlighted by van de Poppe.
Institutional demand for BTC provides silver lining
As of this writing, the Bitcoin value was buying and selling at $108,576.49, representing a 1.23% decline during the last 24 hours. Inside this timeframe, buying and selling quantity has climbed by 11.37% to $72.66 billion, signaling elevated exercise despite the plunge.
This could be because of institutional demand, which VanEck identified just lately. In keeping with the New York-based monetary large, many companies are stacking up on the coin with 638,617 BTC added this yr alone.
The determine has already flipped the 2024 complete of 120,290 BTC, representing a 5 occasions improve thus far.
