Bitcoin price could continue its decline after slipping below $110,000. According to analysts at Bitfinex, the cryptocurrency may find its cyclical floor between $93,000 and $95,000, potentially setting the stage for a rebound in the fourth quarter.
Key Takeaways
- Bitcoin price has dropped over 13% from its all-time high above $124,000 in August.
- Analysts at Bitfinex suggest BTC could fall to the $93K–$95K zone, forming a likely cyclical bottom.
- Factors like macroeconomic shifts, institutional demand, and regulatory developments could help Bitcoin recover in Q4.
Bitcoin Price Trend
After hitting its record high, Bitcoin has experienced a sharp decline. While overall market sentiment remains positive, analysts warn that further downside is possible. The $93,000–$95,000 range could act as a critical support area, potentially forming a cyclical low this September and laying the groundwork for a strong rally in the final months of the year.
Is $93K Within Reach?
Bitcoin recently fell below the key $110,000 level, touching $107,480 on August 30. Bears tested this zone again on September 1, with BTC hovering near $109,000.
Given the 13% pullback from August’s peak, the decline could continue. Analysts note that Bitcoin price might first retest the $100,000 area before reaching the cyclical support at $93K–$95K. On-chain data suggests buyers are taking a pause, awaiting fresh catalysts that could trigger a recovery in Q4.
Important Technical Levels
One key metric to watch is the short-term holder realized price, currently near $108,900. This level serves as a pivot, and sustained trading below it could fuel further selling. Exchange order flow metrics, such as cumulative volume delta, also point to weakening spot market sentiment.
The altcoin market is showing similar behavior, with top tokens like Ethereum and XRP pulling back alongside Bitcoin.
Why Bulls Remain Confident
Despite recent declines, analysts are optimistic about Q4. Strong institutional interest, corporate treasury strategies, and anticipation of Bitcoin ETFs could support price recovery. Additionally, a potential Federal Reserve rate cut and positive regulatory developments could boost risk assets and encourage aggressive dip buying.
Overall, the September correction may pave the way for a solid rebound, making the $93K–$95K range a key area for traders to monitor.
