Bitcoin’s recent performance has set alarm bells ringing across the cryptocurrency market. As of September 2025, the digital asset has witnessed a significant downturn, plunging 6.5% in August alone—a move that ended its four-month winning streak. This decline has raised concerns about a potential slide to the psychologically significant $100,000 mark.
Breaking Through Support
The leading cryptocurrency has breached several key support levels, according to CoinDesk analyst and Chartered Market Technician Omkar Godbole. These include the Ichimoku cloud, along with the 50-day and 100-day simple moving averages (SMAs). Such breakdowns underscore an escalating bearish momentum, reflected in the Guppy Multiple Moving Average (GMMA) and the MACD histogram indicators. The short-term EMA band of the GMMA has crossed below the longer-term band, signaling a shift toward bearish momentum. Similarly, the weekly MACD histogram’s dip below zero suggests a transition from bullish to bearish trends.
“Bitcoin’s movement past these support levels isn’t just a minor hiccup; it’s a significant change in the market’s structure,” said crypto analyst Jamie Carter. “There’s a growing sense of unease among traders and investors, particularly as we enter a historically bearish month.” For more on what to expect from Bitcoin this month, see our analysis of the ‘Red September’ phenomenon.
September’s Shadow
September has not been kind to Bitcoin in the past. Historical data from Coinglass shows that since 2013, Bitcoin has often struggled during this month, posting an average return of negative 3.49%. This bearish seasonality, combined with the recent technical signals, paints a challenging picture for Bitcoin’s near-term outlook. As explored in our article on Bitcoin’s potential September price drop, this trend is a recurring concern for investors.
Adding to the pressure, U.S.-listed spot exchange-traded funds (ETFs) reported an outflow of $751 million last month, according to SoSoValue. This significant capital flight from ETFs reflects dwindling investor confidence and hints at a broader market correction.
Critical Levels to Watch
For Bitcoin bulls, the path to reversing this bearish momentum is fraught with obstacles. Overcoming the lower high of $113,510—set just at the end of August—is crucial. This level acts as a potential pivot point to negate the prevailing bearish sentiment. Meanwhile, on the downside, key support levels include $105,240 (the 38.2% Fibonacci retracement of the April-August rally), $101,366 (the 200-day SMA), and the pivotal $100,000 mark.
The resistance levels stand at $110,756 (the lower end of the Ichimoku cloud), $113,510 (the lower high), and $115,938 (the 50-day SMA). Each of these points serves as a potential hurdle for any bullish recovery.
Looking Ahead
What does this mean for Bitcoin’s future? While the short-term outlook appears grim, the broader cryptocurrency community remains split on long-term prospects. Some industry experts suggest that Bitcoin’s inherent volatility and historical resilience could see it rebound once macroeconomic factors stabilize.
“Bitcoin has been here before, and it has bounced back stronger,” commented blockchain strategist Mia Rogers. “However, given the current technical and seasonal headwinds, traders should brace for a bumpy ride in the coming months.”
As September unfolds, the market will be keenly watching for signs of stabilization or further decline. Whether Bitcoin can defy its historical September struggles remains an open question. What is clear is that the coming weeks will be crucial in determining the trajectory of the world’s leading cryptocurrency.
Source
This article is based on: Red September? Bitcoin Risks Sliding to $100K After 6% Monthly Drop
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Risks Deeper Drop Toward $100,000 Amid Whale Rotation Into Ethereum
- Bitcoin traders say BTC price at ‘make-or-break’ point at $110K
- Bitcoin heads toward $100K as US trade deficit, China bank woes raise alarm
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
