The post Bitcoin Price Drops To 7-Week Low: How Low Could BTC Fall in the Current Pullback? appeared first on Coinpedia Fintech News
Bitcoin just fell under $109,000, its lowest level since July 9. This has raised fresh questions about whether the market is entering a deeper correction or simply cooling off after months of strong gains. Another important shift is in Bitcoin dominance, which has started to fall. Historically, when dominance drops, altcoins tend to outperform.
Bitcoin Price Prediction
According to analyst Josh, Bitcoin has struggled to push higher in recent weeks, which shows that buying power is losing steam. BTC is currently sitting just below support around $109,000. If that level breaks, the next major cushion sits between $106,000 and $105,000. These zones have held during past corrections and will be watched closely this time.
On the upside, resistance is first seen at $112,000. If bulls manage to clear that, the next hurdles sit at $113,400 and $114,800. A clean move above $114,800 would flip that area into support and could open a path toward $117,000. Until then, sellers may continue to cap rallies
Bitcoin’s MACD histogram is still red, a sign that bearish pressure remains in place. Price action has been choppy, with neither bulls nor bears taking full control. .
Bigger Picture: A Pause, Not a Collapse
However, the analyst said that despite the near-term weakness, Bitcoin is still inside a broader bull market cycle. The current pullback is a healthy reset, not the start of a collapse. As long as Bitcoin defends the $105,000 zone, the overall structure of the uptrend stays intact.
Liquidation data shows liquidity clusters between $114,000 and $116,000. That means Bitcoin could be pulled into that zone before sellers try again. Some intraday charts even show a bullish divergence, which supports the case for a short bounce.