BTC/USD: Bitcoin Resumes Slide as Prices Dive to 6-Week Low Under $110,000. What’s Next?

Traders are seeking to scoop up the token as it bottomed out at $108,000. Buy the dip? Or buy the dip of the dip? Or… you get the idea.

📉 Powell Pop to Weekend Flop

• Bitcoin’s summer flight just hit an air pocket. The OG crypto extended its technical pullback Tuesday, sliding to a six-week low of $108,000 before bargain hunters stepped in to try and stabilize prices above $110,000.
• Now, traders are debating whether this is the bottom… or just the dip before another dip. Bitcoin’s rally after Friday — when the Fed chief signaled a September rate cut — didn’t even last through the weekend.
• Risk-on enthusiasm evaporated as markets repriced expectations amid ongoing macro uncertainty. BTC is now down roughly 12% from its hit earlier this month.
• That’s a sharp reset considering how aggressively traders piled in when rate-cut odds surged above 90% post-Powell.

🔍 The Dip of the Dip?

• The selloff wasn’t just contained to Bitcoin. Ether tumbled, too. The second-largest crypto slipped 12% from its fresh to hover near $4,400 Tuesday morning. Crypto’s “everything rally” definitely looks more fragile than it did last week.
• Right here, right now, many are split between taking entries at current market prices (last seen in mid-July) or waiting for a deeper pullback near $105,000 technical support (if Bitcoin gets there at all).
• That said, crypto bulls are clinging to one bullish fact: despite the selloff, Bitcoin still holds a $2.2 trillion market cap, with liquidity deep and institutional buyers ready to scoop up discounted tokens if macro conditions are favorable.

👀 Friday’s PCE Inflation Print

• The next big catalyst? Friday’s Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge. Economists expect core PCE — which strips out food and energy — to come in at 2.9% for July, up slightly from 2.8% in June.
• A cooler-than-expected PCE reading could reignite rate-cut bets, boosting appetite for risk assets like Bitcoin, which thrives when liquidity floods markets and borrowing costs are expected to fall. Conversely, a hotter print could weigh on crypto as investors reprice Fed expectations.
• But until we get there, Bitcoin remains at the intersection of macro pressures and technical fragility. Whether this dip gets bought aggressively or turns into a deeper correction will hinge on Friday’s inflation data — and how it reshapes the Fed’s September path.