Bitcoin broke below the $115,000 mark, and the market has entered a critical moment: breaking through $118,000 will once again challenge the ATH

On September 22, 2025, the price of Bitcoin fell to $111,760, breaking the previously held support level of $115,000. This round of selling led to a total evaporation of $77 billion in the cryptocurrency market, with over 400,000 traders being liquidated, totaling as high as $1.7 billion. Despite the increasing macroeconomic uncertainty, on-chain data and historical patterns indicate that the sentiment of long-term holders remains neutral, and the market is at a crucial juncture determining its future direction.

Widespread selling in the market and Bitcoin price decline

Bitcoin fell to $111,760 on September 22, 2025, down 1.5% from previous levels. This largest cryptocurrency globally broke below the critical support level of $115,000, which it had maintained during previous pullbacks.

The sell-off began on the evening of September 21 and continued until September 22. Just a few days prior, the price of Bitcoin had reached a peak of around $117,000 before starting to decline. During this period, the entire cryptocurrency market also suffered immense pressure, with the total market capitalization shrinking by $77 billion in a single day. Over 400,000 traders were liquidated, with a total liquidation amount reaching $1.7 billion.

The factors leading to the market decline are multifaceted. A stronger dollar has led to an increase in risk-averse sentiment among investors. On the technical charts, Bitcoin formed a bearish technical pattern known as a "doji" in a critical resistance zone. Institutional investors took profits after strong gains in August and early September, and inflows into spot Bitcoin ETFs were paused during this period. Reports indicate that some large holders also sold their positions during the recent price rally. #BTC走势分析 #eth