Bitcoin News Today: Bitcoin's $110K Showdown: Whale Conviction vs. Trump-Driven Sell-Off

Bitcoin's price has retreated 17% from recent highs, consolidating near a key support range of $108,000 to $120,000, amid $19.29 billion in liquidations triggered by macroeconomic pressures and geopolitical tensions. The sell-off, exacerbated by U.S. President Trump's 100% tariff threats on Chinese imports, pushed Bitcoin below $110,000 for the first time in months, marking a 10% decline over 24 hours Coindesk^[1]. The liquidations, primarily in leveraged long positions, totaled $16.7 billion, with Bitcoin and Ethereum accounting for the majority of the losses Coindesk^[1].

Technical analysis suggests Bitcoin is testing critical support levels. A $150 million long position at $108,885, placed by a whale with 40x leverage, signals conviction in a potential breakout above $110,000 . Analysts highlight a triple top resistance pattern at this level, with a projected target of $120,000 if bulls overcome it . Meanwhile, Bitcoin's price has also formed an ascending channel, with the upper boundary at $108,000 serving as a key resistance. A confirmed breakout could propel BTC toward $120,000, mirroring historical patterns from late 2020 .

Market sentiment remains cautiously optimistic. Despite the recent pullback, Bitcoin's market cap remains above $3.87 trillion, and $1.5 billion in ETF inflows have offset some short-term selling pressure Xt.com^[4]. Institutional interest, including potential Bitcoin ETF approvals, adds a bullish catalyst, with some analysts forecasting a climb to $135,000 or higher if macroeconomic conditions align . However, risks persist, including the U.S. government shutdown delaying economic data and escalating trade war rhetoric between the U.S. and China Coindesk^[1].

The liquidation data underscores market volatility. A $1 billion liquidation event in September 2025-$450 million in BTC and $346.46 million in ETH-highlighted the fragility of leveraged positions amid macro shocks Xt.com^[4]. Technical indicators show Bitcoin's RSI at 42, suggesting moderate strength, while Ethereum's RSI at 48 indicates a similar trend Xt.com^[4].

Looking ahead, the path for Bitcoin hinges on its ability to retest and surpass key resistance levels. A break above $113,000 could target $120,000, with further upside potential to $130,000+ in a strong bullish scenario . Conversely, failure to hold above $108,000 may trigger a decline toward $100,000 . Analysts emphasize monitoring on-chain metrics such as accumulation trends and institutional inflows for confirmation .