Bitcoin News Today: A Whale's $2.7B Move Shakes Bitcoin at $110K Crossroads

Bitcoin traders are now closely monitoring the cryptocurrency’s price action as it approaches what many are calling a critical juncture near $110,000. In the past 24 hours, Bitcoin (BTC) has dropped below this key level, reaching as low as $108,890 and marking one of its most significant corrections in weeks. This pullback follows a sharp sell-off from recent highs, where Bitcoin hit $117,000 just days earlier. A major factor behind the decline was a massive whale transaction, in which a single holder offloaded 24,000 BTC—worth over $2.7 billion—over the weekend, intensifying downward pressure and triggering additional selling across the market [1].

The market is now grappling with a shift in trader behavior as the Taker Buy Sell Ratio, a metric that reflects the balance between aggressive buyers and sellers, has fallen to its lowest level since late 2021. According to data from CryptoQuant, this ratio currently indicates that selling activity has outpaced buying in recent weeks, signaling potential caution among investors. This divergence between price and sentiment is often seen before significant market corrections, as was the case during the previous bull cycle in 2021 [3].

Meanwhile, the Bitcoin Fear and Greed Index, a widely used tool to gauge market sentiment, has declined to 48 out of 100—classified as “neutral” but edging toward “fear.” This suggests that while panic has not yet fully set in, traders are becoming increasingly wary of further downside. Historical profitability data, however, offers some reassurance to long-term holders. Holding Bitcoin has been profitable for 99.1% of its history, according to Bitcoin Magazine Pro, which may provide a degree of confidence to those who remain invested [1].

Technical analysts are also weighing in on the potential paths ahead for Bitcoin. A key concern is whether BTC can hold the $110,000 level without slipping into a deeper correction. The 200-day simple moving average (SMA), a traditional support line in bull markets, currently sits just under $101,000. If Bitcoin were to fall below this level, it could signal a broader trend reversal. On the other hand, some analysts, such as Axel Adler Jr., have identified potential support zones in the $100K–107K range, where short-term holders may step in to absorb selling pressure [2].

The market is also showing signs of liquidity exhaustion, with major liquidation events occurring in recent days. According to CoinGlass, total BTC long liquidations have reached nearly $500 million since the weekend, as traders struggle to maintain their positions amid the downturn. Some traders are now speculating that the market may see a short squeeze as price returns to levels where large short positions could be liquidated. For example, $114,000 has been identified as a potential inflection point, where a significant amount of short liquidity could trigger a rebound [2].

As the situation unfolds, Bitcoin’s network fundamentals remain strong despite the price volatility. The hash rate, a measure of the computational power securing the network, has nearly reached a new all-time high, currently sitting at 909,080,589 Th/s. This suggests continued institutional and mining activity, reinforcing the belief that the long-term trajectory of Bitcoin remains intact. However, whether the current pullback will serve as a base for a new rally or signal the beginning of a deeper correction remains to be seen [1].

Source: [1] Bitcoin Price Crashes Below $110000 After Whale Sold ... (https://bitcoinmagazine.com/markets/bitcoin-price-crashes-below-110000-after-whale-sold-24000-btc) [2] Bitcoin drops under $109K: How low can BTC price go? (https://cointelegraph.com/news/bitcoin-drops-under-109k-how-low-can-btc-price-go-next) [3] Bitcoin Faces Pressure as Taker Ratio Hits Lowest Level ... (https://cryptorank.io/news/feed/e1da9-bitcoin-faces-pressure-as-taker-ratio-hits-lowest-level-since-last-cycles-peak)