Аналитики предупреждают: критические уровни поддержки биткоина могут оказаться под давлением Headline: Analysts Warn: Critical Bitcoin Support Levels May Be Under Pressure

On August 26, the price of the leading cryptocurrency dipped to $109,000, triggering a liquidation wave of $900 million in just one day. Analysts have warned about the potential risks of further market decline, as reported by The Block.

“The week began with a significant correction for major assets,” noted Shawn Dawson, head of research at the on-chain options exchange Derive.xyz.

He added that Bitcoin’s daily volatility surged from 15% to 38%. Ethereum’s volatility increased from 41% to 70%.

According to him, the primary factor was the release of the producer price index, which came in higher than anticipated. Traders are panicking and hedging against risks ahead of key data releases: the U.S. GDP report on August 28 and labor market data in early September.

The derivatives market reflects the pessimistic sentiments. The 25-delta skew for the two largest cryptocurrencies by market capitalization has turned negative — market participants are actively purchasing put options.

Dawson suggested that by the end of September, Bitcoin may test the $100,000 mark while Ethereum could hit $4,000.

According to Glassnode, open interest in Bitcoin futures fell by 2.6%. Meanwhile, funding payments for long positions increased by 29% — rising from $2.8 million to $3.6 million, surpassing historical averages. This dangerous combination could lead to a chain reaction of position liquidations if price growth slows down, analysts emphasized.

Simultaneously, on-chain activity shows contradictory dynamics. The number of daily active addresses has decreased, while transaction volumes have increased. This indicates that the market is driven by short-term speculators rather than organic demand.

Timothy Misir, head of research at BRN, described the correction as “a leverage reset amid a weakening market.” He noted that daily liquidation volumes could approach $1 billion. He highlighted the following key Bitcoin levels:

Despite the panic, large companies and institutional investors view the correction as an opportunity and are beginning to purchase Bitcoin at lower prices. On August 25, Strategy acquired 3,081 BTC for $357 million.

BitMine Immersion has increased its Ethereum reserves by 190,500 ETH worth $2.2 billion. As of the time of writing, the firm holds 1.7 million ETH valued at $7.7 billion at current prices.

Following the last trading session, spot Bitcoin ETFs attracted $219 million after a weekly outflow of $1.1 billion, according to SoSoValue. Meanwhile, ETH-based exchange-traded funds received $444 million.

However, the market remains under pressure due to uncertainty surrounding U.S. monetary policy. Last week, during the symposium in Jackson Hole, Federal Reserve Chair Jerome Powell adopted a dovish stance.

At the time of writing, 88.3% of market participants anticipate a reduction in the key rate at the next FOMC meeting scheduled for September 17.

It is worth noting that the surge in discussions about the Fed’s rate indicated possible risks for the cryptocurrency market.