⚫After setting a new high of $124,457, Bitcoin quickly retreated to $114,607, pressured by weak U.S. economic data and Treasury statements that crypto reserves would be replenished solely through confiscations. These factors fueled pessimism, lowered expectations of an imminent Fed rate cut, and spurred investor concerns.
⚫The key question for the market is whether BTC can hold above $100K. According to a PlanB survey, over 60% of participants believe a breakdown below is inevitable, with some analysts even expecting a drop to $90K. Others, however, are convinced that the $102K–$104K zone will serve as a reversal point and the start of a new uptrend. Much will depend on Fed Chair Jerome Powell’s signals at the Jackson Hole symposium.
