Bitcoin News Today: Bull Market's Fate Hangs on $100K Battle

Bitcoin remains in a bull market despite recent price pullbacks, according to market analysts and onchain data. The cryptocurrency, which reached an all-time high of $114,700 earlier in August, has since retreated below $110,000 and faces key technical levels that could determine the trajectory of the current cycle. The price action has raised concerns among traders and investors, particularly as Bitcoin struggles to hold above the 100-day exponential moving average (EMA) of $110,820 and the 200-day simple moving average (SMA) of $101,000 [1].

The decline has led to significant liquidation events, with CoinGlass reporting nearly $500 million in long position liquidations since the beginning of the week. Traders and analysts are closely watching whether Bitcoin can reclaim key support zones, such as the $100,000–$107,000 range, where the aggregate cost basis of short-term holders intersects with the 200-day SMA. This level is seen as a potential buffer should the price continue to fall, with further support expected around the $92,000–$93,000 range [1]. Onchain analyst Axel Adler Jr. emphasized that in bull markets, the cost basis of short-term investors often acts as a floor during retracements, suggesting that these levels could serve as critical battlegrounds for the price in the coming days.

Meanwhile, market participants are also looking for signs of a short squeeze, particularly near the $114,000 level, where analytics account TheKingfisher predicts a “huge wall” of short liquidations if Bitcoin returns. This scenario could trigger a sharp rebound, as speculative shorts face margin calls and forced buying. Some traders have already noted that downside liquidity has been largely absorbed, raising hopes that the market could see a reversal if shorts begin to unwind [1].

The price action has been influenced by broader macroeconomic factors as well. Federal Reserve Chair Jerome Powell’s dovish remarks at the Jackson Hole symposium have increased expectations for rate cuts in September and December, creating uncertainty for fixed-income markets and influencing capital flows into risk assets, including Bitcoin. However, the market remains cautious given the Fed’s dual mandate of price stability and maximum employment. Inflation remains above the 2% target, and while the labor market appears stable, concerns about a slowdown have led to a shift in monetary policy expectations [3]. Analyst Willy Woo attributed part of Bitcoin’s slower price growth to the concentrated supply held by early adopters, who have historically sold only small portions of their holdings despite massive unrealized gains [2].

Despite the volatility, institutional interest in Bitcoin continues to grow, particularly in Asia. The Bitcoin Asia 2025 conference, set to take place in Hong Kong, reflects the region’s expanding role in the cryptocurrency ecosystem. With 15,000 attendees expected, the event is positioned as the second-largest Bitcoin-focused conference in the world, following the flagship event in Las Vegas. Hong Kong has emerged as a regulatory testbed for digital assets, with the approval of spot Bitcoin and Ethereum ETFs in 2024 and the introduction of the Stablecoins Ordinance in 2025. These developments have attracted institutional capital and signaled a growing acceptance of digital assets in the region [6].

However, the broader crypto market remains fragile. ETF outflows, declining transaction fees, and thin liquidity have exacerbated volatility, with Ethereum also showing signs of exhaustion after weeks of outperformance. Onchain metrics point to a market in transition, where retail leverage is being flushed out while institutional players quietly accumulate. The divergence between short-term and long-term conviction could determine whether the bull run continues or faces a deeper correction in the coming weeks [7].

Source: [1] Bitcoin drops under $109K: How low can BTC price go? (https://cointelegraph.com/news/bitcoin-drops-under-109k-how-low-can-btc-price-go-next) [2] Bitcoin Not Rising Quickly Enough? Analyst Says Early... (https://finance.yahoo.com/news/bitcoin-not-rising-quickly-enough-203110676.html) [3] Powell plays best hand he can from a politically stacked deck (https://www.reuters.com/markets/us/powell-plays-best-hand-he-can-politically-stacked-deck-2025-08-25/) [6] Bitcoin Asia 2025 takes over Hong Kong next week as the largest of its kind in Asia (https://cointelegraph.com/press-releases/bitcoin-asia-2025-takes-over-hong-kong-next-week-as-the-largest-of-its-kind-in-asia) [7] Asia Crypto News: BTC Fragility and ETH Rotation Signal... (https://www.coindesk.com/markets/2025/08/26/asia-morning-briefing-btc-fragility-and-eth-rotation-signal-market-bracing-for-consolidation-without-new-liquidity)