Bitcoin Drops To $108K, But Veteran Trader Calls It the Perfect Dip-Buy Zone

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Ah, Bitcoin, the ever-volatile creature of the digital world! In the last 24 hours, it has done what it does best: plunge below $108,500, a drop that could send many traders into a frenzy. But, lo and behold, not all is lost, says VirtualBacon-our seasoned crypto whisperer.

While most of us are huddling in fear, clutching our wallets as if they were our last lifeline, this trader sees an opportunity. A golden one. “Buy the dip!” he cries, almost as if he’s a prophet speaking to us mere mortals. He insists this isn’t a harbinger of doom, but rather the ideal moment to scoop up some more of that precious, digital gold.

Why This Dip Feels Different

VirtualBacon, in all his cryptic wisdom, points to a chart, which most of us will glaze over after the first 30 seconds. But for him, it’s as clear as day. Bitcoin’s fall is tied to its 20-week simple moving average (SMA)-a sacred line that has historically been a reliable “dip-buy zone” during market cycles like 2017, 2021, and now, apparently, 2025. He speaks like a sage who’s seen this movie before. “This isn’t a problem; it’s just a dip,” he says, like it’s no big deal.

He adds that as long as Bitcoin hovers above the 50-week SMA around $95K, we’re safe. The bull market isn’t dead yet, he reassures, as if his words could make the bulls rise from their slumber.


In his mind, the “market top” fears are nothing more than the wailing of the uninformed. He’s not hearing the bells tolling for the end of the cycle. Oh no. We’re “far from euphoria,” he insists. Panic, he argues, is driven more by fear than actual data. Perhaps, but let’s not tell the traders about that-fear is what makes the markets interesting, after all.

Breaking Down the Bearish Signals

And then, of course, there are the doomsayers. The market is going to crash, they say. Bearish divergences, slowing momentum-they have it all. Some even compare this moment to the infamous 2021 cycle. But VirtualBacon isn’t having it. He laughs it off.

According to him, daily RSI divergences merely signal short-term consolidation-nothing more. Weekly slowdowns? Just weaker rallies. The sky isn’t falling yet, people. As for comparisons to 2021, well, Bitcoin has never topped the same way twice. From the 2013 double pump to the 2017 blow-off top to the 2021 rounded double-each cycle, he claims, is unique. So don’t even try to predict this one.

Fundamentals Support the Bulls

Now, let’s get to the good stuff: the fundamentals. VirtualBacon doesn’t just rely on charts-he’s got a keen eye on the macroeconomic forces at play. The Federal Reserve, he points out, is expected to cut rates on September 17th, with an 87% chance of it happening. This could pump liquidity into risk assets like Bitcoin. A little monetary easing, and boom, more money flowing into the market. This could be the fuel the bulls need.

To seal the deal, he points to various indicators-Pi Cycle Top, Mayer Multiple, Fear & Greed Index-that traditionally signal when a market is overheating. Spoiler alert: none of them are waving red flags. Everything’s still “cool” in VirtualBacon’s book.

7/x Meanwhile, the real cycle-top tools are quiet:

Pi Cycle Top → not until $188K+
Mayer Multiple → far from overheated
Fear & Greed → neutral 50

We’re miles away from euphoria.

– VirtualBacon (@VirtualBacon0x) August 29, 2025

Buy The Dip

What’s his advice? Buy the dip, of course. This is not a time to panic-sell, according to VirtualBacon. Even Binance founder CZ chimes in with some sage advice: “Stop selling dips.” Seems like everyone’s on the same page, doesn’t it?

VirtualBacon has set his line in the sand at $95K. If Bitcoin stays above that, the bull market remains intact. So, unless you’re feeling especially brave (or reckless), there’s no need to worry just yet.

At present, Bitcoin is sitting at $108,453, reflecting a modest 1.5% drop in the past 24 hours. But with a market cap of $2.16 trillion, it’s still a force to be reckoned with.

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2025-08-30 11:39