Bitcoin News Today: Investors Shift Focus as BTC Slides, Altcoins Rise

Bitcoin (BTC) fell below $108,000 on Friday, signaling potential further downside amid a broader decline in the cryptocurrency market. Analysts have highlighted the $105,000 to $100,000 range as a critical area to watch, with some noting that a close below $108,666 could trigger a more significant pullback toward the psychological support level of $100,000 [1]. Ethereum (ETH) also experienced a pullback, though it remains above its key $4,094 support level, a threshold that could signal further weakness if breached [1]. The recent price movements reflect increased bearish sentiment, with trading volume and investor behavior indicating a shift in market dynamics.

Network economist Timothy Peterson, however, remains bullish on BTC’s long-term prospects for the remainder of 2025, citing historical trends in which BTC has risen 70% of the time in the four months leading up to Christmas, with an average gain of 44% [1]. This contrast between short-term bearish momentum and long-term optimism underscores the complexity of the market. Meanwhile, Ether ETFs have seen significantly higher inflows than BTC ETFs over the past month, with $1.87 billion in inflows for ETH compared to $350 million for BTC, suggesting a temporary shift in investor interest [1].

Solana (SOL) saw a brief rebound above $210 earlier in the week but has since retreated, with bears pulling the price below key resistance levels. If the price remains below $210, aggressive long positions could be liquidated, potentially driving the price toward the $155 to $210 range [1]. On the other hand, a solid rebound above the 20-day exponential moving average at $193 could signal renewed buying interest, with bulls aiming to push the price toward $240 or higher [1].

Uniswap (UNI) is currently underperforming in the broader market decline, with price action below key moving averages. A close below the 20-day EMA could open the door for further downward pressure toward the 50-day simple moving average, while a sustained rebound above $27 would suggest a potential reversal in the short-term trend [1]. Similarly, Internet Computer (ICP) has been under pressure, with a breakdown below the 50-day SMA increasing the risk of a deeper correction toward $0.68 [1].

The broader market context reveals that investors are rotating out of BTC and into alternative assets, seeking potential upside amid volatility. This trend is supported by data showing a shift in capital flows toward altcoins and prediction markets, where platforms like Underdog and Crypto.com have partnered to offer federally compliant sports event contracts [2]. These new financial instruments are gaining traction in states where traditional sports betting is either restricted or dominated by tribal operators, and they represent a growing segment of the crypto ecosystem [2]. As the crypto market continues to evolve, the interplay between traditional and decentralized financial tools will remain a key factor in shaping investor behavior.

Source:

[1] Price Predictions 8-29: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, HYPE, SUI (https://cointelegraph.com/news/price-predictions-8-29-btc-eth-xrp-bnb-sol-doge-ada-link-hype-sui)

[2] Crypto.com and Underdog partner to offer sports prediction markets (https://www.cnbc.com/2025/09/02/cryptocom-and-underdog-partner-to-offer-sports-prediction-markets.html)