Bitcoin showed modest gains in the latest trading session, sparking optimism among investors that the cryptocurrency may be gearing up for another push toward record levels.
After a period of consolidation, and bearish price action, the asset is gradually returning, with traders eyeing stronger momentum as market conditions stabilize. The price of BTC on Wednesday, climbed 0.9% over 24 hours to trade above the $111,000 price.
Analysts suggest that renewed buying pressure, coupled with improving risk appetite, could pave the way for fresh highs in the coming weeks. Despite the slight recovery, analysts warn that the cryptocurrency is at a “make-or-break” point, with $110,000 emerging as the most crucial support level in the short term.
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Swissblock, a private wealth manager, described $110,000 as Bitcoin’s “lifeline support,” stressing that bulls must defend this zone to keep the uptrend intact. “BTC has proven resilience above $100K, but survival above $110K will decide if the trend continues bullish or tips into structural weakness,” the firm wrote in an X post.
Critical Levels in Focus
Analyst AlphaBTC highlighted the $110,000–$112,000 range as the key battleground for Bitcoin. According to the trader, a four-hour candlestick close above this zone could trigger a rebound, while failure risks a slide to $105,000.
Bitcoin is currently trading about 11% below its August 14 all-time high of $124,500, per Cointelegraph Markets Pro and TradingView data. Several bearish signs suggest a retest of lower levels is possible, but some analysts remain optimistic about Q4.
Seasonal Trends and Long-Term Outlook
Historically, September has been Bitcoin’s weakest month, with BTCUSD never closing more than 8% higher during the period. “The drawdown reflects a perception that the market may be overextended,” noted CryptoQuant analyst Gaah.
Even so, network economist Timothy Peterson projects “positive” performance for Bitcoin in the fourth quarter, predicting average gains of 44% by Christmas. Some bullish forecasts even see Bitcoin targeting $160,000 before the current cycle ends in late October 2025.
The broader market is also reflecting on Bitcoin’s cyclical history. While BTC defied expectations in 2022 by plunging below its 2017 high after the FTX collapse, many analysts argue the asset is entering a more “mature” phase of steady, structural growth rather than extreme boom-and-bust cycles.
Ether Whales Signal Market Rotation
Meanwhile, attention is shifting to Ethereum (ETHUSD). Nine massive whale addresses recently purchased a combined $456 million worth of Ether from BitGo and Galaxy Digital, according to blockchain data from Arkham.
Analysts interpret these moves as part of a “natural rotation” of capital out of Bitcoin and into altcoins. “A lot of this looks like investors locking in profits from Bitcoin’s run and moving into other tokens to catch potential upside,” said Nicolai Sondergaard, research analyst at Nansen.
He added that Ether in particular is benefiting from strong momentum, bolstered by demand from treasury companies and broader investor mindshare.
Looking Ahead
While Bitcoin’s battle for $110K continues, the market dynamic suggests capital is spreading beyond the world’s largest cryptocurrency.
For seasoned investors who have weathered past crypto winters, the message is clear: Bitcoin may still move in cycles, but the ecosystem is maturing, with altcoins like Ethereum increasingly commanding a larger share of attention.