Bitcoin Attempts Stabilization at $112,000 After 10% Drop from ATH

Bitcoin (BTC) is attempting to stabilize around $112,000 after a drop to $110,000, reflecting a 10% decrease from its all-time high (ATH).

Fed Rate Cut Impact

Doctor Profit predicts the Federal Reserve's upcoming rate cut could trigger a market correction in stocks and cryptocurrencies.
The current market environment differs from previous cycles, leading to uncertainty among investors.
Technical indicators for Bitcoin are bearish, with a significant gap at $93,000 needing attention.

Bitcoin

Charts show a potential correction with a double top formation and declining trading volume.
The recent price surge to $124,000 was mainly driven by futures activity.

On-chain metrics indicate retail investors often buy high and sell low.
During the last dip from $110,000 to $98,000, institutional investors capitalized while retail buyers missed opportunities.
As Bitcoin nears the liquidation zone of $90,000 to $95,000, a shakeout may occur.
Current market sentiment may reflect false optimism about an ongoing altcoin season.
Doctor Profit forecasts Bitcoin could rise to $145,000 to $150,000, a potential 34% increase.
Ethereum (ETH) is expected to reach between $7,000 and $8,000 post-September correction.

At present, Bitcoin trades at $112,560, a 6% decline over the past fourteen days. Ethereum has seen a 5% increase during the same period.

Bitcoin