Traders have turned pessimistic, anticipating Bitcoin to drop to $100,000, Ethereum to $3,500, and a pullback in altcoins, according to analysts at Santiment.
😱 Traders have changed their tunes, swinging more and more negative with expectations of Bitcoin falling back below $100K, Ethereum back below $3.5K, and altcoins going through a retrace period. As markets move opposite to the crowd’s expectations, these couple of weeks of FUD… pic.twitter.com/Crh9sw00Bw
— Santiment (@santimentfeed) September 9, 2025
“As markets move contrary to the crowd’s expectations, these weeks of FUD are an encouraging sign that a major frightening pullback may never occur,” experts reassured.
Charles Edwards, founder of Capriole, noted that miners are selling the leading cryptocurrency at a rate not seen since the $19,000 price levels.
Bitcoin miners are puking Bitcoin, at a rate not seen since $19K.
This typically happens for 1 of 2 reasons:
1) Margin squeeze, they need cash (not so today)
2) They are in profit and bearishIn all cases, price was higher a month later. pic.twitter.com/6fNvINpPNJ
— Charles Edwards (@caprioleio) September 9, 2025
According to his observations, such a situation can occur in two scenarios: during margin calls for cryptocurrency miners or if they are in profit and bearish. Edwards dismissed the first option.
“In all cases, the price was higher a month later,” he emphasized.
Analyst and MN Trading founder Michaël van de Poppe suggested that if Bitcoin falls below $103,000-105,000, market participants will declare the start of a bear cycle.
According to Benjamin Cowen, CEO of Into The Cryptoverse, the leading cryptocurrency is still slightly above its bull market support level, so “the grueling September test continues.”
#BTC still just above its bull market support band. The grueling September test continues… pic.twitter.com/JAyLBSAAiq
— Benjamin Cowen (@intocryptoverse) September 9, 2025
At the time of writing, digital gold is trading at $111,800, having gained 1% over the week.
The cryptocurrency fear and greed index stands at a neutral level of 49.
As reported by CryptoQuant, two scenarios for Bitcoin’s future movement were described: maintaining a sideways trend or further correction.