Bitcoin Faces Renewed Pressure as Analyst Predicts Drop Below $100K

After setting a new all-time high above $24,000, Bitcoin has struggled to maintain its upward momentum and has once again turned downward. According to well-known crypto analyst Doctor Profit, the worst may still be ahead. The analyst predicts that Bitcoin’s price could fall below the $100,000 level, signaling that this correction may only be the beginning of a deeper decline.

September Could Be Bearish for Bitcoin

In a post on X (formerly Twitter), Doctor Profit highlighted that the ongoing correction is far from over and could stretch into September. While August began with bullish momentum, the tone has shifted as the month nears its end. The analyst warns that a major psychological support level could soon be broken, setting the stage for increased bearish pressure.

If Bitcoin does fall below $100,000 in September, it would mark the first time since June that the cryptocurrency has lost this critical level. Having spent the last two months consistently above it, $100,000 has emerged as a significant support area, and breaking it could open the door to further declines.

Despite this outlook, Doctor Profit insists that the bull market is not over. Instead, he frames the move as a temporary correction that could ultimately reset the market before Bitcoin resumes its longer-term upward trend.

Historical Trends Point to Weakness

Doctor Profit’s bearish forecast finds support in Bitcoin’s historical performance. Data from CryptoRank shows that September has been one of the weakest months for Bitcoin across its trading history. Over the past 14 years, the cryptocurrency has closed September in negative territory in nine instances.

On average, the month has produced a return of -5.58%, with a median return of -4.43%. These figures make September statistically the most bearish month for Bitcoin investors, underscoring the likelihood that the price could once again stumble in the weeks ahead.

A Temporary Setback or Start of a Larger Trend?

The coming weeks will determine whether this downturn is simply another dip in Bitcoin’s broader bull cycle or the start of a deeper correction. While the $100,000 level has proven to be a strong line of defense in recent months, history and sentiment suggest that the market could face turbulence before bulls regain control.