Bitcoin Jumps 2.5% to $111K as Analyst Warns of 20% Corrections Ahead

The Bitcoin price jumped 2.5% in the past 24 hours to trade at $111,318 on a 53% daily trading volume surge to $45.1 billion.

BTC is moving in a tight range near $111k-$112k as Analyst Jordi Visser says Bitcoin’s road to new record highs will come with big drops of 20% or more, just like Nvidia’s stock. He compared Bitcoin to Nvidia, which has risen over 1,000% since ChatGPT launched, but still had several sharp corrections.

Visser believes Bitcoin is tied to the “AI trade” and will become the best store of value as artificial intelligence reshapes industries and reduces the role of traditional companies.

Right now, Bitcoin is trading above $111,000, about 11% below its record of $123,000. Some analysts think Q4, usually a strong period for crypto, could push prices up to $140,000.

Others warn that the current dip could turn into a bigger downturn, possibly sending Bitcoin back to $60,000. Uncertainty over regulations and delays in creating a U.S. Bitcoin reserve have also dampened hopes. Still, many remain confident that, despite short-term swings, Bitcoin will continue to rise in the long run, driven by market shifts and growing interest from investors looking for digital alternatives.

Bitcoin Holds Support, Traders Watch for Breakout

Bitcoin (BTC) is trading at $111,654, holding above an important support level around $110,000. This level has become a key area for traders, as it has helped stop the price from falling further. Many see it as a possible buying point before the next big move.

Looking at the recent price action, Bitcoin has gone through different phases this year. From May to July, the market was stuck in consolidation, moving sideways without a clear trend. In August, BTC broke out and climbed close to $120,000, but profit-taking caused the price to fall back. Since then, Bitcoin has been ranging sideways again, testing its lower boundaries.

BTCUSDT Analysis. Source: Tradingview

Technical signs suggest Bitcoin is preparing for its next step. The Relative Strength Index (RSI), which measures momentum, is now around 46. This level shows the market is neutral — not too hot and not too cold — giving Bitcoin space to build a new trend. Traders are now watching the $120,000 “neckline” resistance. If BTC can break above it, the next target could be around $150,000.

For the short term, the focus is simple: can Bitcoin hold above $110,000 and bounce higher? If it does, momentum could return and push the price toward new highs. But if it breaks below this level, the bullish outlook could weaken.

Bitcoin remains in a sideways range, but many are preparing for a breakout. If the bullish scenario plays out, BTC could rise toward $150,000 in the coming months, marking a strong continuation of its long-term uptrend.