Bitcoin is under the spotlight as it hovers near the psychologically significant $100,000 support level, with traders and analysts closely watching whether the world’s largest cryptocurrency can hold amid mounting technical and institutional pressures.
As of Monday, Bitcoin traded at $108,253, down 0.49% from the previous session and marking a 6.5% decline for August, entering what analysts call “Red September”—historically the cryptocurrency’s weakest month.
Technical Levels in Focus
The near-term chart presents a complex mix of support and resistance levels. Immediate resistances sit at $110.9K, $112.5K, $113.4K, and $115K, while support zones are around $107–106K and $104.1K. Analysts highlight $107,000 as a potential short-term floor, with $108,000 providing immediate support.
Some technical indicators, including divergences in the Relative Strength Index (RSI), hint at a possible bullish reversal, though the recent breach of $109K–$111K levels points to the potential for a $100K test.
The $100,000 Psychological Barrier
The $100,000 mark carries significant weight in the market. Weekly support at $98,000 is seen as a critical line; a close below this could push momentum decisively into bearish territory.
Analysts caution that falling below $100,000 could signal a pause—or even an end—to the current bull cycle, though bullish RSI patterns suggest a potential rebound remains possible.
Technical commentary suggests that if Bitcoin respects the $108,000 support zone, a deeper drop to $100,000 could act as a safety net, offering a buying opportunity for long-term investors.
Institutional Flows Signal Caution
Institutional activity is adding to market uncertainty. Bitcoin ETFs recorded net outflows of $749.2 million in August, a notable shift from the strong inflows seen earlier in 2024 and 2025. Meanwhile, Ethereum ETFs saw solid inflows, highlighting a potential rotation in institutional interest.
Despite outflows, whale accumulation remains robust, with 19,130 addresses holding large Bitcoin positions, suggesting that some long-term investors are using current weakness to accumulate.
Looking Ahead: Price Targets and Scenarios
Bitcoin’s next moves hinge on its ability to hold key support and overcome resistance levels. Analysts point to a short-term target of $115,940, with medium-term forecasts ranging from $120,000 to $130,000 if bullish momentum returns.
Breaking above $112,000 could open the door to a run past $120,500, while failure to defend $100,000 could trigger further selling. Clusters of liquidations near $114,000 and $120,000 could act as magnets for price action if momentum shifts.
Seasonal Trends and Market Sentiment
September is historically a challenging month for Bitcoin, and current headwinds—including technical signals, seasonal factors, and institutional outflows—make for a cautious environment. The RSI at 37 indicates downside momentum but also leaves room for a potential rebound if market flows or macro conditions improve.
While short-term conditions appear bearish, whale accumulation and technical divergences suggest that long-term investors remain cautiously optimistic about Bitcoin’s prospects.
