Forecast for Bitcoin (BTC) Market Cost on August 23

Will Bitcoin (BTC) potentially reach a correction at approximately $114,000 in the near future for traders?

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2025 September 5 . 11:50 AM

1 min read

Forecast for Bitcoin (BTC) Prices on August 23rd

Forecast for Bitcoin (BTC) Market Cost on August 23

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In the cryptocurrency market, Bitcoin (BTC) has experienced a 3% increase since yesterday, currently trading at $115,352. However, the more likely scenario for the rest of the month is sideways trading within the range of $114,000 to $118,000, according to price analyst Denys Serhiichuk.

From a midterm perspective, a false breakout of the $111,919 level has been observed, but this does not suggest an immediate drop to the $114,500-$115,000 zone as previously predicted. The low volume indicates a potential lack of strong market direction, and if no changes occur, there is a possibility of a test of the $114,000 mark.

Interestingly, the rates of all top 10 coins, including Bitcoin (BTC), are rising today, according to CoinStats. Yet, no significant bullish momentum has been maintained after the bullish bar closure on the bigger time frame, and on the hourly chart, the rate of Bitcoin (BTC) is near the local support of $115,189.

It's worth noting that Serhiichuk's recent analyses highlight bearish trends with Bitcoin testing support levels around $109,000 and potential further drops to $100,000–$105,000 if support fails. If a bounce back does not occur by the end of the day, a level breakout of Bitcoin (BTC) is expected, followed by a potential drop to the $114,500-$115,000 zone.

However, the current low volume suggests potential low volatility in the near future. As always, it's crucial to keep a close eye on market developments and make informed decisions based on reliable sources and analysis.