Bitcoin (BTC) extended its losses on Friday, September 26th, trading at $108,631 as the US gross domestic product (GDP) growth revisions in the U.S. 2-quarter hopes for a more aggressive Fed rate cut.
The Spot Bitcoin Exchange-Traded Funds (ETF) also suffered a blow, recording more than $253 million on Thursday, September 25th, bringing the week's total to about $480 million.
As things stand, the resistance for cryptocurrencies is “not that big” under $112,000, warning major crypto analyst Michael Van de Poppe in a social media post Friday morning.
Looking at data from the past quarter, Van de Poppe predicted that if it doesn't break in, the world's largest crypto could sink towards the $107,000 level.
“Essentially, under $112K under resistance, it's not great for Bitcoin. So I think we'll wipe out the lowest at 107K and see what we get from there.X's analyst writes.
A crucial moment for Bitcoin?
Data from the Crypto Fear & Greed Index showed a low reading of 28/100 on Friday. coinmarketcap. This ratio drops by 16 points per day, indicating how quickly emotions change over periods of high volatility.
This is because the broader cryptocurrency market reduced its value by more than $150 billion in just 24 hours, with total capital plunging from $3.90 trillion to $3.75 trillion at press time. BTC suffered the biggest losses, eliminating more than $20 billion.
However, observing potential bull trap signs, analyst Michael Pizzino said in a YouTube video on Friday morning that the fear level is actually strengthened, but BTC is well above the low past cycle.
This claimed that the run may not be over yet and that it may have witnessed “the turning point where Bitcoin and the Cryptocurrency were waiting for.”
More fear and higher prices.
Is this the turning point that Bitcoin and crypto had been waiting for?
The analysis seems good, but it has not been confirmed.
In this video, we will explain about https://t.co/fizujcb4ry pic.twitter.com/ptopot7r2370
– Michael Pizzino (@pizzinomichael) September 26, 2025
Going forward, traders will focus on future US macro data. September PMI readings and weekly unemployment claims scheduled for September 30th and October 2nd can set the tone for the Fed's next move. This could revive or enhance the pressure to enhance the risk appetite to test whether recent plunges are a pause in the bull cycle or an onset of deeper corrections.
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