Bitcoin Price Prediction: Bears Target $105K as Altcoins Hold Firm
Bitcoin price prediction turns bearish as BTC falls below the key $110,530 support. Bears have pushed BTC/USDT under the 20-day EMA, setting sights on a drop to $105,000 and possibly $100,000 if selling intensifies. Historical September seasonality adds risk, with Bitcoin closing in the red eight of the past ten Septembers. Despite this, institutional inflows into digital asset products reached $2.48 billion last week, highlighting ongoing demand.
Altcoins show resilience with shallow pullbacks: Ethereum hovers at the 20-day EMA near $4,378, while XRP tests $2.73 support. BNB trades above its 20-day EMA ($847) with upside potential to $900, and Solana finds support around $195. Dogecoin and Cardano remain near $0.21 and $0.80, respectively, each facing pivotal moving averages. Chainlink slipped below its 20-day EMA at $23.45, risking a slide toward $21.36.
Overall crypto market sentiment is mixed. The Bitcoin price prediction outlook is negative unless bulls reclaim the 20-day EMA. Traders should watch for a decisive move above this level to signal a rebound.
Bearish
The news highlights Bitcoin’s failure to hold above the $110,530 support and its drop below the 20-day EMA, signaling a bearish technical setup. With historical September seasonality showing downward bias and bears targeting $105,000, the immediate outlook is negative. Although institutional inflows suggest underlying demand, they may not offset selling pressure in the short term. Altcoins’ shallow pullbacks offer limited relief but align with broader market weakness. Similar past events in September saw BTC reinforce bearish trends despite inflows, leading to sub-$100K tests. In the long term, a decisive reclaim of the 20-day EMA could shift sentiment, but near-term risk remains to the downside.