Bitcoin News Today: Bitcoin's $112K Slide Unveils Battle Between Bears and Hopes of a Bullish Rebound

Bitcoin’s price action in recent trading sessions has drawn close attention as the asset dipped below the $112,000 threshold, triggering significant leveraged long liquidations. According to market data, over $642.4 million in long positions were wiped out across the crypto derivatives market in the last 24 hours, with Bitcoin accounting for $235.5 million of these losses. The sharp drop followed a short-lived rally fueled by Fed Chair Jerome Powell’s recent dovish remarks, which had briefly pushed prices above $113,000 before a major whale executed a large sell order into the rebound [1]. This move accelerated the decline from the all-time high of $124,500, marking an 11% drop over a short period [1].

The price has now settled in the $111,300 to $111,800 range, where analysts are closely monitoring whether it can hold key support levels. Trader Jelle highlighted the importance of maintaining levels above $111,900 to prevent a potential retest of the $100,000 psychological level [1]. Similarly, Captain Faibik noted that support around $111,800 is showing signs of weakness, and a break below this level could signal a fresh downward move toward $107,000–$108,000 [1]. On the other hand, the liquidation heatmap from CoinGlass shows strong buy orders forming between $110,500 and $109,700, suggesting potential accumulation at these levels [1].

Despite the near-term volatility, several analysts remain optimistic about Bitcoin’s long-term trajectory. Gert van Lagen noted that the parabolic structure remains intact, with a bullish target of $350,000, although he also warned of a possible drop to $95,000 if this structure is invalidated [1]. Michael van de Poppe of MN Capital views the current pullback as a favorable entry point for traders ahead of a potential rebound [1]. Meanwhile, BitQuant reiterated that his cycle top target of $145,000 for Bitcoin in 2025 remains unchanged [1].

Technical indicators continue to reflect bearish momentum. On the hourly chart, Bitcoin is trading below both the $112,000 level and the 100-hourly simple moving average. The RSI and MACD indicators are both in bearish territory, reinforcing the downward pressure [2]. Immediate support levels are identified at $108,500 and $107,200, with a further breakdown potentially sending prices toward $105,500 and even $103,500 [2]. Resistance levels remain at $110,500 and $112,500, with a potential retest of $113,000 if a reversal occurs [2].

As the market digests recent price action, the focus remains on whether Bitcoin can stabilize above the $111,800 level to avoid further downward pressure. The next few trading sessions will be critical in determining whether the bears can extend their dominance or if a sustained recovery is on the horizon.

Source:

[1] Bitcoin late longs wiped out as sub-$110K BTC price calls louder (https://cointelegraph.com/news/bitcoin-late-longs-wiped-out-sub-110k-btc-price-calls-louder)

[2] Bitcoin Price Slips Below $110K, Is a Bigger Drop Coming? (https://www.mitrade.com/insights/crypto-analysis/bitcoin/newsbtc-BTCUSD-202508261112)