Bitcoin News Today: Bitcoin's $110k Inflection Point: Bearish and Bullish Forces Vie for Control

Bitcoin's price plunged below $110,000 this week, marking one of the sharpest monthly drawdowns since July 2025, as selling pressure from long-term holders (LTHs) intensified amid market uncertainty ahead of the Federal Reserve's policy decision, according to a Coinotag analysis. Over the past 30 days, LTHs—those holding BTC for over 155 days—have offloaded 325,600 Bitcoin, according to crypto analyst Maartun. This represents the largest monthly sell-off since July 2025 and has exacerbated volatility in a market already reeling from a $3 billion liquidation event in early October, according to Yahoo Finance.

The decline has tested critical support levels, with Bitcoin retesting the $110,000 threshold for the third time in ten days. Analysts warn that a sustained break below this level could trigger further short-term bearish momentum, pushing the price toward the next on-chain support at $93,300 for the 6–12 month age band. Meanwhile, spot trading volume has surged, signaling healthier market participation as investors avoid leveraged bets following October's deleveraging.

The selling pressure has been amplified by a major whale, attributed to early adopter Owen Gunden, who reportedly moved 2,587.6 BTC—worth $290 million—to Kraken in under ten days, a detail first reported by Yahoo Finance. Gunden's actions, coupled with ETF outflows totaling $471 million in October, underscore a broader profit-taking trend as holders lock in gains after Bitcoin's 128-day streak above $100,000.

Yet, not all on-chain activity points to bearish sentiment. Bitcoin mega whales—entities holding over 1,000 BTC—accumulated 52,500 Bitcoin ($5.7 billion) in October, signaling strong institutional conviction, according to a Mexc report. This accumulation, spread across multiple wallets and accompanied by withdrawals to cold storage, suggests long-term positioning rather than speculative trading.

The market's trajectory remains intertwined with macroeconomic factors. The Fed's 25-basis-point rate cut failed to spark a rally, as Bitcoin slipped below $109,000 amid lingering concerns over U.S.–China trade tensions, according to Yahoo Finance coverage. While a temporary trade deal briefly lifted prices, broader geopolitical risks continue to overshadow bullish fundamentals. Analysts at CryptoQuant note that increased spot volume, though a positive sign, does not guarantee buyer dominance in a range-bound market.

Investors are now closely monitoring key on-chain metrics. According to a Yahoo Finance analysis, the Cost Basis Distribution Heatmap reveals that Bitcoin's recent rebounds from $116,000 have been met with heavy overhead supply, mirroring patterns from previous corrections in 2024 and 2025. Meanwhile, the Short-Term Holder Net Unrealized Profit/Loss (STH-NUPL) metric indicates eroding bullish conviction, with the market teetering on the edge of prolonged consolidation.

In this volatile environment, experts advocate disciplined strategies like dollar-cost averaging (DCA) to mitigate the risks of emotional trading, as explained in a Coincub guide. By investing fixed amounts at regular intervals, investors can smooth out price swings and avoid the pitfalls of timing the market—a lesson underscored by Bitcoin's recent turbulence.

As the FOMC meeting looms, the market awaits clarity on interest rate policy, which could dictate the next phase of Bitcoin's journey. For now, the battle for $110,000 remains a pivotal inflection point, with both bearish and bullish forces vying for control.