Is Correction Due in Bitcoin: Latest Bitcoin News and Levels
Bitcoin (BTC) is trading around $110,700, showing relatively stable movement amid a mixed macro backdrop. A record-high network hash rate signals underlying strength, while seasonal patterns and broader economic data introduce near-term caution.
Technical resistance sits in the $112K–$115K zone, with downside support around $100K. Institutional ETF inflows and macro optimism could fuel a rally, but historically weak performance in September makes the outlook currently cautious.
Bitcoin Next Target
- Price: ~$109,433 USD (Intraday range: ~$109,378 to $112,519)
- Market Cap: ~$2.18 trillion USD (based on ~19.91 million BTC in circulation)
- 24-Hour Trading Volume: ~$56–57 billion USD
- Circulating Supply: ~19.91 million BTC
- Max Supply: 21 million BTC — firmly capped by design
BTC is currently trading around $111,850, just below the BOS level at $113,429.
Price has bounced from the demand zone near $109K, showing short-term bullish momentum.
If bulls reclaim the BOS level, the next target is $122,450.
Failure to hold above $113K could trigger another drop back toward the $109K or deeper support around $98K.
Key Indicators & Market Signals
- Hash Rate Strength: The Bitcoin network hit a record-high hash rate, showing strong miner confidence and robust security.
- Seasonal Headwinds: September has historically been Bitcoin’s weakest month, averaging 5–8% declines, which may add to volatility.
- Support & Resistance: Key resistance lies in the $112K–$115K zone, while $100K is a critical support level. Falling below it could expose BTC to $95K downside.
- Safe-Haven Behavior: Bitcoin is acting more like a safe asset, similar to gold, as expectations grow for a Federal Reserve rate cut.
- ETF Flow Dynamics: Spot Bitcoin ETFs reported strong inflows of around $300 million on September 3, reflecting strong institutional demand.
Latest News Highlights
- Bitcoin traded flat around $110,700, supported by miner confidence despite seasonal caution.
- A slight early-day dip to $111K came as optimism rose for an upcoming Fed rate cut.
- Analysts warn of a possible decline to $95K if $100K support fails, but a breakout above $115K could open the path toward $128K in Q4.
Also Read, Ultimate Crypto Trading Guide for Beginners
