📉 Bitcoin Correction Looks Shallow — But Don’t Rule Out One More Dip

BTC just pulled back 13% from its 124K peak, but with only 9% of supply underwater, Glassnode says this correction looks “mild.” The catch? A Fed meeting looms Sept. 17 — and one more dip before the next ATH isn’t off the table.

⚡ Quick Hits

• 💰 Current Price: 111,500 (Asia session)
• 📉 Intraday Low: 108,500
• 📈 Recent Peak: 124,000 (Aug 14, 2025)
• ⚖️ Correction Depth: -13.4%
• 🧾 Supply at Loss: 9% (vs 25%+ at past bottoms)
• 🌐 Market Cap: 3.93T (+1.3% daily)
• 📅 Catalyst Ahead: Fed meeting on Sept 17

🔍 A Shallow Pullback, Glassnode Says

Glassnode data shows that only 9% of BTC supply is at a loss, with unrealized drawdowns capped around 10%. For context:

• Past cycle bottoms saw 25%+ supply underwater.
• Deep bear markets hit 70–78%.

Translation: This is not a bloodbath correction. More like a mid-run breather.

BTC double-dipped to 107.5K earlier this week, but the broader picture? Institutional demand from ETFs + corporate treasuries is absorbing sell pressure that wrecked retail cycles in 2017 and 2021.

🐂 Institutions Are Buying the Dip

ETFs and treasury allocators are quietly acting as a floor. Entrepreneur Ted Pillows summed it up:

“This isn’t the top. It’s just a normal correction before a new ATH.”

Michaël van de Poppe, MN Fund co-founder, added:

“Yes, we could have a deeper correction, and yes, I’m buying that one. But the closer we get to the Fed meeting, the less likely it continues — especially if BTC breaks 112K.”

📊 Technical Outlook

• 🔑 Resistance: 112K → breakout flips the script bullish.
• ⚠️ Support: Failure = dip toward 105K.
• 🟢 Bullish case: Break 112K → correction ends → 124K+ retest.
• 🔴 Bearish case: Rejection → slide toward 105K before next ATH attempt.

The total crypto market cap sits at 3.93T, up 1.3% daily, showing early stabilization signs despite volatility.

🌍 Bigger Picture

• Fed policy matters: Sept. 17 meeting is the next big macro driver.
• Supply stress is low: Just 9% underwater = bullish structure intact.
• Institutions keep stacking: ETFs + corporates differentiate this cycle from retail-driven runs.

The correction is shallow by historical standards. Whether BTC dips one more leg before blasting to fresh ATHs will likely depend on macro headlines — not crypto-native weakness.

✍️ TL;DR

Bitcoin’s 13% pullback to 108K looks shallow by historical measures: only 9% of supply is at a loss, far below past cycle bottoms. With ETF and treasury buying cushioning the drop, analysts see this as a healthy reset, not a peak. Key battle: reclaim 112K or risk one more dip to 105K before setting new all-time highs.