Bitcoin has fallen below the $110,000 mark, reaching a seven-week low near $108,700, its lowest level since July 10. This decline represents an approximate 11% drop from its recent year-to-date high of $124,457 recorded earlier in August. The cryptocurrency experienced over $900 million in liquidations within 24 hours amid a shift to risk-off capital rotation. Bitcoin briefly dipped to $108,762 on Tuesday before recovering slightly to around $111,252. Market analysts note that Bitcoin is now trading below its 100-day moving average, with traders focusing on a potential trading range between $105,000 and $115,000. The downturn comes despite ongoing corporate and institutional buying, including inflows into Ethereum ETFs, which have seen $3.3 billion compared to $1 billion outflows from Bitcoin ETFs. Ethereum also experienced volatility, dropping below $4,400 after reaching near $4,955 earlier in the month. Some market commentators warn of further downside risk, with predictions that Bitcoin could fall to $75,000. Despite the current weakness, some industry figures remain optimistic about Bitcoin's long-term potential, citing interest from sovereign wealth funds, pension funds, and family offices. Other cryptocurrencies such as Dogecoin and altcoins have also declined amid the broader crypto market sell-off.