BTC dip predictions fall below $90K: 5 things to know in Bitcoin this week

Bitcoin

 starts the second week of September facing crucial resistance as traders maintain downside targets.

• Bitcoin price action coils below $112,000 over the weekend, but fears of a 10% correction or worse are mounting.
• CPI week is here again, and markets are wondering how large next week’s Federal Reserve interest-rate cut will be.
• Data is starting to hint that the institutional “rotation” from BTC to Ether exchange-traded products is over.
• Bitcoin whales bring back the 2022 bear market with mass selling over the past month.
• Binance is in the spotlight over a potential BTC price top warning from market takers.

• BTC price worries include sub-$100,000

  Bitcoin managed to avoid volatility around its latest weekly close, data from Cointelegraph Markets Pro and TradingView shows.

  

  $112,000 remains a key target among traders hoping for a resistance/support flip.

  Analyzing exchange order-book liquidity, popular trader CrypNuevo flagged $106,700 as an important level to the downside.

  “If the previous range lows continue to be resistance, price will attempt to hit the liquidation at $106.7k,” he wrote in part of a thread on X Sunday.

  

  As Cointelegraph reported, attention is now focused on how low BTC/USD could drop in a potential capitulation event.

  $100,000 is a favorite line in the sand, with Fibonacci retracement levels now confluent with a retest of that level as a “worst case scenario.”

  Telegram analytics channel Coin Signals, meanwhile, contributed another, more concerning bottom target of 30% versus Bitcoin’s latest all-time highs.

  “Based on cycle’s default correction % and time taken to hit lows from a local top, BTC could see a -30% correction from local top $124k, Bottoming in the last week of SEP or first week of OCT,” part of an X post stated.

  Such a scenario would put BTC/USD at around $87,000.

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