Forty days after hitting an all-time high (ATH) of $124,457.12, the Bitcoin (BTC) price has suffered a 7.07% decline in the last month. The asset’s continued volatility has sparked concerns among investors. However, Maartunn, a crypto analyst, believes the coin is testing a critical support.
 Bitco

All-Time High (ATH)

Volatility

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Support

Forty days after hitting an all-time high (ATH) of $124,457.12, the Bitcoin (BTC) price has suffered a 7.07% decline in the last month. The asset’s continued volatility has sparked concerns among investors. However, Maartunn, a crypto analyst, believes the coin is testing a critical support.

## Bitcoin short-term holders’ realized price

In a post on X, Maartunn noted that Bitcoin is approaching the short-term holders' (STH) realized price of $107,000. According to him, if BTC touches this price level, the asset is likely to rebound and break out in a bullish rally.

For clarity, short-term holders are investors who bought the coin within the past 155 days. So, the average price at which these investors bought the asset, referred to as the realized price, is $107,000 

With Bitcoin currently trading above the realized price, these investors are less likely to sell and could support the coin’s price resilience.

However, if it dips below this level, some holders might panic and sell. Maartunn believes that the realized price has provided reliable support for Bitcoin in this bull run. He cautions, though, that the ability of Bitcoin to break out of this price range will determine its recovery.

Notably, if the asset falls and stays below $107,000 for long, it could signal weakening momentum.

## Market sentiment divided as Bitcoin faces uncertainty

As of press time, the Bitcoin price was changing hands for $110,313.52, representing a 1.68% decline in the last 24 hours. The coin dipped from an intraday peak of $112,946.38 to a low of $108,762.04, still above the realized profit level.

Meanwhile, trading volume has also suffered a decline by 10.27% to $77.57 billion within the same time frame. This suggests that investors are cautious and not convinced to continue accumulating just yet.

In light of market uncertainty, Bitcoin critic Peter Schiff had advised investors to sell their asset and wait for the coin to plunge to $75,000 before rebuying it. Whether BTC will dip that low remains unknown.

Bitcoin Price Approaching Short-Term Realized Price, Key Scenarios to Watch - U.Today

Samson Mow maintains his bearish outlook on Ethereum, predicting a downturn as it has recently lost value while Bitcoin's dominance decreases. He notes Ethereum's price closely mirrors Bitcoin's fluctuations.

* Mow reaffirms his ultra-bearish ETH prediction
* Ethereum follows Bitcoin closely
Samson Mow, a Bitcoin supporter and the JAN3 chief executive officer, has addressed the Bitcoin community as he quoted his own tweet published last week. That X post contained a bullish prediction for BTC and a bearish one for Ethereum.

## Mow reaffirms his ultra-bearish ETH prediction

On Aug. 22, Samson Mow shared his take on when Bitcoin will reverse and start running upward again. Per the JAN3 CEO, it will happen once BTC market dominance increases again. Recently, it has declined to 58% as Ethereum was surging in price and other altcoins followed suit.

However, Mow pointed out that Ethereum was “in the final stages of this recent pump and dump.” Once ETH resumes its “long-term downtrend against Bitcoin,” BTC will rally again.

Today, he cited that tweet, saying, “Not to say I told you so, but…” He stated that the largest altcoin, Ethereum, has shed 12.7% since Sunday, losing the $4,956 level and landing at $4,327 on Monday.

By now, ETH has rebounded a little and is changing hands at $4,478.

## Ethereum follows Bitcoin closely

However, Ethereum has closely followed the price movement of Bitcoin. The latter has lost 4.77% since Sunday, and by now has regained 1.08%. Bitcoin shed 7.08% on Monday.

Currently, BTC is trading at $110,171 per coin.

'$1 Million BTC' Samson Mow Doubles Down on His Ultra-Bearish ETH Forecast - U.Today

Pepe (PEPE), the frog-themed meme coin, has yielded to bearish pressures after its price lost over 6% in the last seven days. This has plunged the value of the meme coin to a level investors have been avoiding, as PEPE zeroes increased from four to five.
 Pepe price slips below key support

PEPE

ZERO

DROPS

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Pepe (PEPE), the frog-themed meme coin, has yielded to bearish pressures after its price lost over 6% in the last seven days. This has plunged the value of the meme coin to a level investors have been avoiding, as PEPE zeroes increased from four to five.

## Pepe price slips below key support level

According to CoinMarketCap data, Pepe slipped from an intraday peak of $0.00001028 to $0.000009606 as the $0.00001016 support failed to hold. Pepe traders decided to exit their position as the meme coin approached key resistance levels. This might have been to take advantage before it slips further.

The frog-themed meme coin’s outlook worsened as Bitcoin’s dominance rose to 57.83%, shifting investors’ capital to safer assets. This increased the bearish pressure on Pepe.

As of press time, Pepe was changing hands at $0.000009706, representing a 2.08% decline in the last 24 hours. The price outlook has significantly affected investors’ confidence, and many traders have pulled back. This is shown by the trading volume, which is currently down by 12.54% at $976.18 million.

A critical look at the meme coin market reveals a declining interest in speculative trading as the broader financial market faces uncertainty. Notably, Pepe whales have reduced their holdings in the last week, suggesting a shift in investment focus.

## Can Pepe bulls help meme coin recover?

Interestingly, about a month ago, Pepe whales were very bullish as they defied the bearish pattern at the time to move about 7.7 trillion Pepe in just a single day.

The current development was predicted by U.Today in an earlier report, which noted that without the sell-off clearing, the meme coin was likely to slip. It is clear that ecosystem bulls did not defend the price level, hence the plunge.

Investors and market participants alike would have to work harder to knock off the zero from PEPE and help it recover. How they react will determine the next outlook for Pepe in the crypto space.

PEPE Price Loses One Zero as Price Drops 6% - U.Today

Tim Draper humorously reflects on his previous $250,000 Bitcoin price prediction, acknowledging its delays but still viewing Bitcoin as a hedge against governance issues. He compares Bitcoin to Microsoft, highlighting its growing market dominance and innovative applications.

* Uber-bullish price target
* Bitcoin and Microsoft
Prominent Silicon Valley investor Tim Draper has addressed his failed $250,000 Bitcoin price predictions during his Monday interview on CNBC 

"So, I've been predicting $250,000 for Bitcoin for a long time. It turns out I haven't been right yet," Draper said, bursting out in laughter 

Nevertheless, Draper claims that the fact that Bitcoin is already halfway there is "very exciting." 

He insists that Bitcoin is a "hedge" against bad governance, arguing that now is actually "a really good time" for the bellwether token.

## Uber-bullish price target

Draper, who made his massive fortune with early bets on such names as Skype and Hotmail, was also among the first prominent investors to embrace Bitcoin. In 2014, he bought tens of thousands of Bitcoins that were auctioned off by the US Marshals Service after being confiscated from darkweb marketplace Silk Road 

In 2014, Draper predicted that Bitcoin would hit $10,000 within three years with extreme accuracy 

However, his next bullish target was a huge miss. Draper first stated that Bitcoin would be able to reach $250,000 within four years back in April 2018. He would then repeatedly reiterate that prediction throughout the years. 

By the end of 2022, Bitcoin was trading at just $16,000 amid the FTX-induced market crash. Draper was forced to reset the clock on his ambitious price target several times 

Most recently, he predicted that Bitcoin would finally be able to reach $250,000 this year, which seems to be rather unlikely considering that the crypto king is currently changing hands at $111,000 

## Bitcoin and Microsoft

As reported by U.Today, Bitcoin recently started losing ground to altcoins, including Ethereum (ETH) 

Draper claims that competition is good for Bitcoin, adding that its market dominance is actually higher compared to previous cycles 

He has reiterated that Bitcoin is comparable to tech behemoth Microsoft in the sense that various novel applications are being ported to the leading network 

Draper has stated that there is a "gravitational" pull toward the largest cryptocurrency

Bitcoin Price Approaching Short-Term Realized Price, Key Scenarios to Watch - U.Today

'$1 Million BTC' Samson Mow Doubles Down on His Ultra-Bearish ETH Forecast - U.Today

PEPE Price Loses One Zero as Price Drops 6% - U.Today

Billionaire Tim Draper on $250K Bitcoin Prediction: 'I Haven't Been Right Yet' - U.Today