Bitcoin's price has fallen below $111,000, retreating after a brief surge following Federal Reserve Chair Jerome Powell's speech at Jackson Hole. The cryptocurrency dropped over 3% to $110,956, with its market dominance slipping to approximately 57%. The decline was exacerbated by a $2.7 billion sell-off by an early whale, triggering a flash crash that wiped out $500 million in leveraged positions. Despite the downturn, analysts remain optimistic about Bitcoin's potential to rebound to its all-time high above $124,000. The recent weakness is highlighted by six consecutive sessions of ETF outflows. However, QCP Group analysts suggest that the market can absorb the selling pressure. Ethereum might gain from Bitcoin's reduced dominance, particularly if ETH staking ETFs receive approval later this year.