Bitcoin News Today: Bitcoin Faces 8% Correction as Exchange Inflows Surge 80,810 BTC

Bitcoin is currently facing a potential 8% correction as exchange inflows surge past $9.4 billion following the latest Consumer Price Index (CPI) data. This significant influx of over 80,810 BTC moving to centralized exchanges indicates heightened selling interest and suggests that holders are preparing to liquidate their positions. Historically, such large inflows have preceded price corrections, reflecting the cautious sentiment prevailing among investors.

Key support levels between $107,000 and $109,000 are emerging as critical zones for Bitcoin’s price stability. These levels are supported by Fibonacci retracement and on-chain accumulation data, which highlight significant accumulation clusters where investors have historically purchased Bitcoin in bulk. The $107,000–$109,000 range is particularly notable due to its proximity to a recent consolidation phase before Bitcoin’s breakout. Such accumulation zones often attract dip-buyers, reinforcing price floors and mitigating deeper declines.

Technical analysis suggests that Bitcoin’s price recently slipped below the 0.236 Fibonacci retracement level at $117,293, following a decline from its all-time high of $123,203 to around $117,143. The next critical support lies at the 0.618 retracement level of $107,726, often referred to as the “golden pocket,” where assets typically find strong buying interest during healthy pullbacks. The alignment of this Fibonacci level with the $107,000–$109,000 accumulation cluster strengthens its validity as a support zone. Should Bitcoin continue to decline, an 8% correction to this level is plausible. Conversely, a sustained recovery above $117,293, accompanied by a reduction in exchange inflows, could invalidate this bearish outlook and signal renewed bullish momentum targeting previous highs.

Investor sentiment currently leans cautious, influenced by macroeconomic data and technical signals. The surge in exchange inflows suggests that some holders are opting to realize profits or reduce exposure amid uncertainty. However, the presence of strong accumulation zones indicates that long-term investors may view current levels as buying opportunities. Monitoring exchange inflow trends alongside price action will be crucial for anticipating the next directional move.

In conclusion, Bitcoin’s recent price correction, triggered by CPI data and evidenced by significant exchange inflows, highlights a phase of increased selling pressure. The $107,000–$109,000 range emerges as a vital support zone, bolstered by both Fibonacci retracement and on-chain accumulation data. While an 8% dip remains a realistic scenario, reclaiming the $117,000 resistance with diminished selling pressure could restore bullish momentum. Investors should closely watch these technical levels and exchange activity to navigate the evolving market landscape effectively.