QCP Analysts Warn of Potential Bitcoin Drop to $107,000 and Ethereum to $3,300 Amid Market Pressures Translation: QCP Analysts Warn of Potential Bitcoin Drop to $107,000 and Ethereum to $3,300 Amid Market Pressures

The cryptocurrency market continues to face pressure, as an ongoing correction could lead to recent lows of $107,000 for Bitcoin and $3,300 for Ethereum, according to analysts at QCP Capital.

«U.S. stocks fell sharply during the last session, while Chinese stocks demonstrated relative resilience,» the experts noted.

However, they observed that institutional demand remains strong. Over the past day, there was a net inflow of $241 million into spot Bitcoin ETFs, breaking a two-day streak of outflows.

«The trend of buying at lows continues. In the options market, call contracts with a strike price of $118,000 are predominant,» the analysts emphasized.

As the fourth quarter begins, which is historically seen as a more favorable period, there is a moderate sense of optimism in the markets due to softer credit conditions.

«Participants are anticipating two 25 basis point rate cuts in October and December. If next week’s non-farm employment data doesn’t exceed forecasts, this scenario is likely to hold,» concluded QCP Capital.

CryptoQuant analyst Axel Adler pointed out that the MVRV Z-Score indicator has «fallen to a baseline zone.»

The metric remains at -0.3 with a downward trend.

«This indicates that market capitalization is close to its ‘fair’ value relative to the realized price, taking into account annual volatility. There is no overheating, and valuations appear neutral or moderately ‘cheap’ compared to last year,» the specialist explained.

In a conversation with The Block, BRN researcher Timothy Miziir noted that a double bottom reversal pattern is forming on the Bitcoin chart, with support around $111,115.

«This is a market full of ‘ifs’,» the expert remarked. «If the pattern holds, if flows into ETFs stabilize, if ETH returns to its range.»

He observed that the nearest resistance level is at $115,000, while on-chain metrics suggest a risk of price drops into the $90,000-$105,000 range.

Miziir described the $4,000 level for Ethereum as «fragile»—if it breaks, the price could retreat to the $3,600-$3,800 range.

At the time of publication, the first cryptocurrency is trading around $111,212 (-1.8% over 24 hours), while Ethereum is near $3,960 (-5.2%), according to CoinGecko.

It’s worth noting that researchers from Glassnode have recorded a weakening demand for Bitcoin.

They stated that the break-even point for short-term holders ($111,400) is a key support level for digital gold.