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Bitcoin (BTC) has continued its downward spiral as technical signals confirm bearish momentum for the flagship cryptocurrency. In the last 24 hours, Bitcoin dropped from an intraday peak of $111,420.48 to the $108,000 range, leaving investors wondering how low it could drop. Analyst predicts $103K as potential Bitcoin bottom According to an update from Michaël van de Poppe, a renowned crypto analyst, Bitcoin’s short-term trend is likely to remain bearish. He believes that the market is in a corrective phase and might stay on the downward path for a while till the price hits near $103,000. You Might Also Like Van de Poppe considers this level a possible “bottom out” point for BTC. He insisted that the current levels show weakness and indicate that the correction is not finished yet. To exit the current phase, the analyst noted that Bitcoin has to break above the $112,000 resistance level. It’s quite clear. Trend is slightly downwards at this point, and #Bitcoin is looking to get itself into a bottom of the correction. I don’t think we’re done yet. For me, being done would be to break above $112K, the level the market clearly rejected on yesterday and fell… pic.twitter.com/RzmMuycqjD — Michaël van de Poppe (@CryptoMichNL) August 30, 2025 This price level has proven to be significant as Bitcoin faced rejection here. It indicates that sellers are still in control, a development that could prevent upward momentum for the asset. Interestingly, a Bitcoin whale reportedly raked in $4 billion in profit within the last 48 hours. Such profit-taking moves could stand in the way of a quick rebound, and when it happens, the momentum would be weak, as highlighted by van de Poppe. Institutional demand for BTC offers silver lining As of this writing, the Bitcoin price was trading at $108,576.49, representing a 1.23% decline…

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Filed under: News - @ August 30, 2025 3:27 pm