Bitfinex: Bitcoin Price Could Bottom at $93K–$95K
Bitfinex analysts report that Bitcoin price has fallen over 13% from its mid-August $124,000 high, dipping below $110,000 after a sharp correction. They say on-chain data and historical bearish patterns point to a cyclical bottom for Bitcoin price between $93,000 and $95,000. Altcoins have underperformed, reflecting general risk aversion. However, strong institutional demand for Ethereum indicates a potential Q4 recovery for ETH and broader altcoin markets. Analysts suggest September may mark the market low before structural drivers drive gains in the fourth quarter.
Bullish
The projection of a Bitcoin price bottom at $93K–$95K signals that further downside risk may be limited, encouraging traders to accumulate near the cycle low. Historically, market bottoms have coincided with strong subsequent rallies. Additionally, robust institutional demand for Ethereum suggests renewed capital inflows into altcoin markets heading into Q4. In the short term, the announcement may stabilize prices around the anticipated bottom, while in the long term, structural drivers and seasonality could fuel a broader crypto market recovery.