Bitcoin Falls Below $110K Amid Fears of Deeper Pullback
Bitcoin (BTC) slipped below $110,000 on Thursday, erasing part of its recent rebound and raising concerns over a potential deeper correction before a stronger fourth quarter. BTC declined 2.2% over 24 hours to $109,500, down from Wednesday’s high of $112,600 and retracing half the weekend’s gains from $107,000.
Other major cryptocurrencies also fell, with Ether (ETH), Solana (SOL), and Cardano (ADA) all dropping more than 3%. Corporate BTC holders reflected the weakness: Strategy (MSTR) lost 3.2%, MetaPlanet (3355) fell 7%, KindlyMD (NAKA) slid 9%, and Ether-focused vehicles BitMine (BMNR) and SharpLink Gaming (SBET) dropped 8–9%.
Analyst outlook
Bitfinex analysts note BTC is in its third week of retracement from the August all-time high of $123,640. Historical bull-market corrections average roughly 17%, suggesting BTC is nearing typical drawdown levels. Key support sits at the short-term holder realized price near $108,900; if breached, BTC could retrace further toward the $93,000–$95,000 range.
LMAX Group strategist Joel Kruger remains cautiously optimistic, citing September as a consolidation period ahead of a potentially stronger fourth quarter, bolstered by ETF inflows, corporate treasury allocations, and regulatory tailwinds.
