Key Takeaways
Bitcoin’s (BTC) price has slipped below $110,000, putting the week on track to close in bearish territory. However, the decline may not be over just yet.
This pullback doesn’t necessarily signal that the current bull cycle has peaked. In fact, several indicators suggest that BTC could face more downsides before setting the stage for an explosive rebound.
Here’s why Bitcoin’s next big move may still be ahead.
From an on-chain perspective, Santiment data shows that Bitcoin’s 90-day Mean Dollar Invested Age (MDIA) has been climbing.
The MDIA tracks the average age of all coins on the network, weighted by the value invested in them.
When this metric rises, it generally means that long-term holders are sitting tight and fewer “younger” coins are moving on-chain.
A sustained increase in MDIA signals reduced network activity and a cautious market mood, which can precede periods of price stagnation or short-term declines.
However, in the broader cycle context, rising MDIA also implies that strong hands are accumulating and holding, frequently setting the stage for the next primary bullish impulse once selling pressure dries up.

If this trend continues, it suggests that while Bitcoin may face near-term weakness, the groundwork for a larger rebound—or even an explosive rally, is quietly being laid.
Interestingly, several crypto analysts share this view. Crypto Dan, for example, argues that BTC is currently in the third phase of the bull cycle.
According to him, Bitcoin could temporarily lose capital as funds rotate into altcoins. However, he maintains that the year’s final quarter may push BTC to a new high, marking the next major leg of the cycle.
“Moreover, with a rate cut expected in September and potential approval of spot ETFs for altcoins in October, the market outlook for fall and winter 2025 appears optimistic after the current consolidation phase,” The analyst posted via CryptoQuant
From a technical standpoint, the daily chart shows Bitcoin’s price forming a megaphone pattern resembling a loudspeaker.
In this setup, each swing grows larger than the last, creating an expanding triangle that reflects intensifying battles between bulls and bears.
Buyers drive the price to new highs, while sellers force deeper lows, resulting in steadily increasing volatility.
Bitcoin’s price has also bounced above the zero line on the Chaikin Money Flow (CMF), signaling renewed capital inflows.
Combined with the megaphone pattern, this suggests a big move is on the horizon, potentially with the breakout direction skewed to the upside.
If this trend continues, BTC may avoid a drop to $96,094. Instead, the coin could maintain strong support at $108,724, creating room for a retest of the $124,813 resistance.

As long as the broader market doesn’t turn hawkish, Bitcoin’s price could increase, potentially reaching $171,272. A rally toward the $200,000 milestone is also possible in a highly bullish scenario.
On the flip side, if BTC fails to defend support at $108,724, the market could unravel, leaving the coin vulnerable to a breakdown below $100,000.