Bitcoin price outlook: BTC dipped below $110,000 to $108,000 on August 29, a 13% retreat from the $124,000 peak. Immediate support at $108K must hold to prevent a deeper correction toward the $93K–$95K band; macro rate-cut expectations still offer mid-term upside.
BTC dropped to $108K on Aug 29, a 13% pullback from $124K peak
Short-term holder cost basis sits near $108.9K; a break can trigger multi-month weakness.
On-chain and technical data suggest a mid-term bottom range between $93K and $95K if support fails.
Bitcoin price outlook: BTC fell to $108K after a 13% pullback from $124K. Read concise analysis, on-chain signals, expert quotes and near-term support levels.
What is the Bitcoin price outlook after the $110K break?
Bitcoin price outlook is cautious in the near term: BTC cracked $110K and moved to $108K, increasing short-term downside risk. If $108K fails as support, on-chain patterns and historical sell-offs point to a potential mid-term retracement toward the $93K–$95K range, while macro catalysts could restore the bull case.
How serious is the current correction and which indicators matter?
The correction amounts to roughly 13% from the $124K local high. That is inside the 30% pullback range typical of prior bull cycles, but caution is warranted.
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Bitcoin must defend the $108K area as the immediate support. A confirmed hold above $108K coupled with renewed momentum would reduce the probability of a deeper correction and validate a near-term bullish stance.
Historical patterns and on-chain cost-basis analysis indicate a statistical mid-term bottom between $93K and $95K after a decisive break of short-term holder support. A larger correlation-driven sell-off could see prices test $70K in an extreme scenario.
Market pricing for a 25 bps Fed cut in September is nearly priced in, which could ease policy-driven headwinds. Analysts citing liquidity effects from U.S. Treasury issuance caution near-term pressure, but expected rate relief remains a bullish tailwind for risk assets including BTC.
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Source: https://en.coinotag.com/bitcoin-could-fall-below-108k-potentially-triggering-mid%E2%80%91term-pullback-toward-70k-95k-analysts-say/