Bitcoin Braces for Potential Plunge to $112K as Market Shudders—Buy the Dip or Bail?

Bitcoin's bull run hits a brutal speed bump—$112,000 now looms as critical support after this week's bloodbath. Here's why traders aren't panicking (yet).

### The Correction Nobody Saw Coming

Market veterans shrug—'healthy pullback' or canary in the coal mine? Liquidity vanished faster than a DeFi rug pull when BTC sliced through key levels.

### Wall Street's Broken Crystal Ball

Analysts who predicted 'imminent $150K' now whisper about miner capitulation. Thanks for nothing, guys—maybe lay off the hopium next time.

### The Silver Lining Playbook

OGs stack sats while weak hands flee. History says this could be the last discount before the halving frenzy. Or the start of crypto winter 2.0—no pressure.

Pro tip: If your 'risk management' consists of praying to Elon Musk memes, maybe reconsider your life choices.

Meanwhile, Matrixport emphasized that this year’s Jackson Hole Economic Symposium is unlikely to provide substantial market-moving signals, describing it as more of a discussion forum than a catalyst.

As a result, the market WOULD look toward the Sept. 17 FOMC meeting for clearer guidance.

Ethereum traders lose over $200 million

The sudden decline triggered a wave of liquidations across crypto markets that caught many traders unaware.

Data from CoinGlass indicates that approximately $534 million in Leveraged positions were liquidated, impacting over 127,000 traders.

Long positions suffered the most, accounting for $447 million in losses, while short positions contributed around $86 million.

Ethereum traders experienced the sharpest blow, with liquidations totaling $212 million, almost double the $111 million lost by Bitcoin traders. Traders of Solana, XRP, and Dogecoin also faced significant losses, amounting to $31 million, $18 million, and $17 million, respectively.