Bitcoin Struggles at $110K: Correction or Rebound?

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Ah, Bitcoin. Once basking in the glory of $124,457, now slumming it around $110,154. After a monumental peak, it has decided to take a little tumble, shedding 12% in just 13 days. Some might call it a “correction,” others might just call it a “mood swing” for the crypto king.

And now, the burning question for traders: Will this little dip be the calm before another exhilarating breakout, or is it a sign that the bottom is falling out? Stay tuned, folks. The drama is just beginning.

The Profits Are Rolling In… For Some

In the grand theater of Bitcoin, long-term holders are happily cashing out their winnings. Glassnode has revealed that these investors have realized more profit this cycle than in all but one previous cycle (2016-17). So much for the “HODL forever” crowd. It seems that even the most faithful are ready to take a little off the table. 🤑

“$BTC long-term holders have already realized more profit this cycle than in all but one prior cycle (2016-17), highlighting elevated sell-side pressure. Taken alongside other signals, this suggests the market has entered a late phase of the cycle.”- glassnode (@glassnode) August 26, 2025

Volatility, my friends, is the name of the game, and the market may be entering its ‘mature’ phase… where investors start wondering whether it’s all just a grand illusion.

Bitcoin’s Big Slip Below $112K

The chart says it all-a bearish trend has firmly gripped the market. BTC has entered a descending channel, which, let’s be honest, is starting to look a little like a rollercoaster going down. 🚨

After a failed attempt at a bounce near $117,429, Bitcoin is currently battling the psychological support of $110,000. Will it hold? Or is this the final act before it falls into the abyss of lower support levels? It’s like watching a soap opera, but with less romance and more red candles.

The short-term picture looks like a sad tale. Bitcoin is flirting with the 20-day and 50-day EMAs, which are currently acting like an unwilling lover-rejecting every attempt to rise above them. And let’s not forget the 100-day EMA that just got dragged into this mess. It’s like that one friend who always brings drama to the party.

On top of this, volume spikes are suggesting some brave souls might start buying, but is it enough to turn the tide? Time will tell, but the mood is decidedly bearish. 🐻

The Bear Bull Power (BBP 13) indicator is in negative territory, sitting at a not-so-happy -8,909. This suggests that the market is losing momentum. So, don’t get your hopes up just yet.

The Relative Strength Index (RSI) is drifting downwards at 37.35, showing that buying momentum is running low. In fact, it’s got a ways to fall before hitting oversold territory (anything below 30). Will it bounce when it does? Maybe. Maybe not. Drama. 😬

And the MACD? Well, it’s just a textbook bearish indicator at this point. The lines are separated, the trend is clear. It’s not just a dip; it’s a trend.

Will Bitcoin Rise Again?

Could a miracle happen? Sure, but only if Bitcoin can manage to hold the support at $110,485, followed by $107,656 and $105,005. If it fails, we could be looking at a slow descent towards $103,739. 🛑

However, if a rally does materialize, Bitcoin will need to smash through $114,500 and $116,092 before any dreams of a $121,000 (or even $124,457) comeback can be taken seriously. At this point, it’s anyone’s guess-but it sure does make for good entertainment. 🍿

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2025-08-26 21:54