After hitting a new record high in August, Bitcoin (BTC) fell sharply below $110,000 due to macroeconomic data and increasing selling pressure.
This decline in Bitcoin has made investors nervous, and they are wondering whether there will be a further decline.
While $100,000 and below are among the predictions at this point, K33 Research stated that the decline could continue below $100,000.
Speaking to The Block, K33 Research analyst Vetle Lunde said that tariff pressure and US economic data could lead to a price drop in Bitcoin in September.
Lunde stated that this decline would be a buying opportunity, and that attractive entry levels for Bitcoin could emerge in the support areas around $101,000 and $94,000.
On this point, Lunde noted that September was Bitcoin's weakest month historically, with new macro risks from tariffs and US data threatening a downside squeeze.
“The cryptocurrency market entered a period of volatility in September due to US tariffs, slowing economic indicators and seasonal factors.
Since 2011, Bitcoin's average September return has been -4.6%, making it the only month with a negative average return.
Lunde argued that Bitcoin's long-term upward trend remains unchanged despite the short-term bearish expectation.
At this point, the analyst added that he plans to re-enter the market after September.
*This is not investment advice.
