Bitcoin News Today: Bitcoin Falls Below $112,000 as Crypto Market Faces Sharp Correction

Panic selling surged across the crypto market as Bitcoin (BTC) fell below $112,000 to trade at $110,000, while Ether (ETH) retreated to $4,400 after hitting an all-time high of $4,900 just weeks earlier. The sharp corrections triggered a wave of liquidation among retail investors, many of whom are interpreting the move as a sign the bull phase is over. However, seasoned traders and analysts emphasize that such volatility is typical in the crypto cycle and should not be overreacted to [1].

Over the past 12 days, BTC experienced a rapid and volatile trajectory, dropping from its peak of $124,457 to as low as $110,000. The price briefly recovered to $118,000 before retreating again, reinforcing concerns about a deeper bearish trend. According to market analytics from CoinMarketCap, BTC's total market cap stands at $2.19 trillion with a 24-hour trading volume of $82.3 billion, reflecting ongoing heavy activity despite the downward movement [1].

Several analysts have noted that the month of September has historically been bearish for the crypto market, and this year is expected to follow the same pattern. A key analyst predicts that BTC could decline further to below $100,000, potentially reaching the $90,000–$93,000 range before stabilizing and closing a critical CME Gap. This correction, if it unfolds as expected, would set the stage for a potential recovery and new all-time highs in the fourth quarter [1].

Meanwhile, ETH faced its own correction after reaching a peak of $4,900. A popular crypto trader and analyst urged investors to avoid panic selling, pointing out that ETH is currently testing key support levels between $4,100 and $4,200. He noted that after a 3.5x increase from $1,385 in four months, a temporary pullback is natural and that the asset remains in a strong position to break above $5,000 again [1].

Crypto veteran IT Tech emphasized the normalcy of corrections in a recent post, highlighting that an 8–10% drawdown from an all-time high is far from unusual in this cycle. He advised investors to maintain a long-term perspective and avoid emotional decision-making during volatile periods [1].

While the short-term outlook for both BTC and ETH appears bearish, the broader narrative among analysts remains cautiously optimistic. The market is seen as undergoing a typical correction phase that could lead to stronger price action in the coming months. Investors are being reminded to stay patient, adhere to their strategies, and avoid overreacting to short-term volatility [1].

Source: [1] Panic Selling Ensues as BTC Hits $110,000 and ETH Price Drops Back to $4,400 (https://cryptonewsland.com/panic-selling-ensues-as-btc-hits-110/)