Bitcoin Price at $110K: Bulls and Bears Clash Ahead of September Volatility

Bitcoin (BTC) is once again at a critical crossroads, consolidating around the $110,000 support level as traders brace for what could be another turbulent September.

The world’s largest cryptocurrency briefly climbed above $117,000 after dovish signals from the U.S. Federal Reserve, but it has since dropped 4% in a week, fueled by a whale dump that wiped out over $550 million in liquidations during thin weekend trading.

With September historically one of Bitcoin’s weakest months, investors now face a mix of technical challenges, conflicting on-chain signals, and global macroeconomic uncertainty.

Bitcoin Technical Outlook: Key Levels to Watch

• $110,000 Support Zone: A pivotal level backed by the 200-day moving average. Losing this zone could expose BTC to the $100,000–$105,000 range.

• Upside Targets: A daily close above $112,000 is needed to regain short-term momentum. Reclaiming the 50-day moving average around $116,000 could trigger a push toward the $117,000–$120,000 resistance band.

• Seasonal Risk: Historically, Bitcoin has posted negative September returns in 8 of the past 12 years. Still, bulls hope for a repeat of 2017’s pattern, when BTC rallied strongly after early weakness.

Conflicting On-Chain Data

Institutional and whale behavior paints a divided picture:

• Whale Accumulation: The number of wallets holding over 100 BTC has hit record highs, signaling confidence from long-term holders.

• ETF Outflows: U.S.-listed spot Bitcoin ETFs saw $751 million in net outflows in August, suggesting profit-taking or caution among institutional investors.

• MVRV Death Cross: Analysts flagged a bearish signal in the MVRV momentum indicator, often linked to cycle tops, hinting at weakening capital inflows despite August’s new all-time highs.

Macro Factors Driving Bitcoin

• Federal Reserve Policy: Jerome Powell’s dovish comments lifted hopes of easing, but persistent inflation makes the Fed’s next move uncertain. Liquidity remains the key driver for Bitcoin cycles.

• US Dollar Index (DXY): A weaker dollar could provide a tailwind for Bitcoin, while stronger fiscal deficits and geopolitical risks reinforce BTC’s role as a hedge against fiat devaluation.

Key Scenarios for September

• Bullish Case: Holding $110,000 could open a retest of the $113,000–$115,000 range. A breakout above the 50-day MA would strengthen bullish momentum.

• Bearish Case: A clean break below $110,000 risks cascading sell pressure, pushing BTC toward the $103,000–$105,000 zone, especially given September’s “red month” reputation.

Bottom Line

The $110,000 mark is shaping up to be a defining battleground for Bitcoin in September 2025. With Fed policy, inflation data, and ETF flows acting as key catalysts, traders should expect heightened volatility and prepare for both bullish rebounds and bearish breakdowns.