Bitcoin Slides Below $110K as Analysts Warn of Potential Pullback

Bitcoin (BTC) fell below $110,000 on Thursday, ending a brief rebound and raising concerns about a deeper correction before a potentially stronger final quarter, according to Bitfinex analysts. The largest cryptocurrency dropped 2.2% over 24 hours to $109,500, erasing roughly half of the gains from the weekend low of $107,000 after topping $112,600 on Wednesday.

Other major tokens also fell sharply: Ether (ETH), Solana (SOL), and Cardano (ADA) all declined more than 3% over the same period.

Corporate BTC holders mirrored the weakness. Strategy (MSTR) lost 3.2%, remaining 30% below its July peak. MetaPlanet (3355) dropped 7%, now 60% under its June high, and KindlyMD (NAKA) slid 9%, down 75% since mid-August. Ether-focused vehicles BitMine (BMNR) and SharpLink Gaming (SBET) fell 8–9%.

Potential downside
Historical patterns suggest September tends to be one of bitcoin’s weaker months. Gold recently broke above $3,500, drawing capital away from riskier assets. Bitfinex analysts noted BTC has now entered its third consecutive week of retracement from the August all-time high of $123,640. Bull-market corrections historically average around 17% peak-to-trough, suggesting BTC is nearing typical drawdown levels.

However, if BTC falls below the short-term holder realized price near $108,900—a key support representing newer investors’ cost basis—it could trigger a deeper drop. Analysts point to a dense supply cluster between $93,000 and $95,000 as a likely durable floor.

LMAX Group strategist Joel Kruger expressed a more optimistic view, noting that September often serves as consolidation ahead of a stronger fourth quarter. He added that ETF inflows, corporate treasury allocations, and supportive regulatory developments could limit the depth of the correction this year.