Bitcoin News Today: Bitcoin's Megaphone Pattern and Miner Sales Signal a Tipping Point

Matrixport’s September 2025 outlook for Bitcoin indicates a continuation of price consolidation over the next 2-3 weeks, with a potential catalyst expected to drive a significant price movement. This forecast aligns with recent market observations of reduced volatility and mixed signals from on-chain metrics, suggesting the market is in a transitional phase. Analysts and institutional players are closely watching key levels and patterns for clarity on the next directional move.

Technical analysis has highlighted the presence of bullish megaphone patterns on multiple time frames, suggesting the potential for a parabolic price rise if Bitcoin breaks through key resistance levels. The smaller megaphone pattern, formed since July 11, saw a recent rebound at $108,000, reinforcing the pattern’s validity. A confirmed breakout above $124,900 could set the stage for a rally toward $144,200, which represents a 27% increase from current levels. A broader pattern forming over the past 280 days has Bitcoin nearing its upper trendline, with analysts like Galaxy and Faisal Baig projecting a target of $206,800 or even $260,000 if the weekly pattern confirms.

The recent pullback to $108,000 has sparked debate on whether this represents a local bottom or a deeper correction. Short-term holder (STH) behavior has been a key indicator, with panic selling from this group driving the market value realized value (MVRV) ratio to oversold conditions. Historical data shows similar scenarios during Bitcoin’s April 2025 dip, suggesting that the current level could be a temporary floor. Institutional accumulation has also been at its highest since that period, further supporting the idea of a potential rebound. However, caution remains as the market remains highly sensitive to both macroeconomic factors and on-chain activity.

Corporate and institutional demand continues to shape the narrative, with JPMorgan noting that Bitcoin is undervalued when compared to gold. The bank points to declining volatility—now at historic lows—as a factor that has brought Bitcoin closer in volatility to gold, making it an attractive option for institutional portfolios. According to JPMorgan’s volatility-adjusted models, Bitcoin’s market cap would need to rise by 13% to align with gold’s $5 trillion private investment benchmark. This suggests a price of approximately $126,000, implying a potential upside of $16,000 from current levels. Corporate adoption, including index inclusion and capital inflows, is expected to further stabilize Bitcoin’s price and reduce volatility, according to the report.

Despite growing demand and stabilizing fundamentals, Bitcoin miners have been offloading coins at an accelerated pace, raising concerns about potential downward pressure. Over a 12-day period ending August 23, miners sold $485 million worth of BTC, with net flows showing little sign of accumulation. While these outflows have not yet triggered a broader market correction, they have intensified speculation and fear in the short term. Miner profitability has also faced headwinds, with a 10% decline over the past nine months despite a 18% rise in Bitcoin’s price. Factors such as rising mining difficulty and weaker on-chain transaction demand have contributed to this trend.

Market analysts remain divided on the short-term outlook, with some predicting a healthy consolidation period and others warning of potential bearish scenarios. John Pompiano, for example, views the recent pullback as a necessary reset, driven by seasonal trends and broader market weakness. He projects that Bitcoin could still reach $150,000 in the current cycle if institutional demand and a more accommodative Federal Reserve policy unfold as expected. However, he also warns of a “Weimar Lite” decade, where currency debasement, rising inequality, and asset inflation could define the economic landscape. In this context, Bitcoin is seen as a hedge against monetary expansion and potential macroeconomic instability.

Source: [1] Bitcoin megaphone pattern targets $260K as BTC price ... (https://cointelegraph.com/news/bitcoin-megaphone-pattern-targets-260k-abtc-price-screams-oversold) [2] Bitcoin Undervalued Versus Gold as Volatility Collapses, ... (https://www.coindesk.com/markets/2025/08/28/bitcoin-undervalued-versus-gold-as-volatility-collapses-jpmorgan-says) [3] Bitcoin Miner Selling A Risk To The BTC Bull Market? (https://cointelegraph.com/news/bitcoin-miners-cash-out-dollar485m-in-btc-here-s-why) [4] Bitcoin Correction, Fed Policy, and “Weimar Lite”: Analyst ... (https://www.financemagnates.com/trending/bitcoin-correction-fed-policy-and-weimar-lite-analyst-warns-of-volatile-decade/) [5] Bitcoin Asia 2025 Hit By Withdrawals As Hong Kong Officials ... (https://finance.yahoo.com/news/bitcoin-asia-2025-hit-withdrawals-045622021.html) [6] Hong Kong Officials Skip Bitcoin Asia 2025 Over Eric ... (https://www.livebitcoinnews.com/hong-kong-officials-skip-bitcoin-asia-2025-over-eric-trumps-role/)