Bitcoin News Today: Whale Selloff Ignites Bitcoin’s Freefall—Next Support Looms at $103K

Bitcoin's price has fallen below the 100-day Exponential Moving Average (EMA), currently at $110,820, raising concerns about a potential deeper correction. The move has triggered massive liquidation events, with over 179,700 traders liquidated in the past 24 hours and total liquidations exceeding $800 million, according to CoinGlass data. This price decline has brought Bitcoin to its lowest levels in seven weeks, with the price hovering near $110,000 as of Tuesday, August 26, 2025. The selloff has erased all gains from Federal Reserve Chair Jerome Powell's dovish comments at the Jackson Hole Symposium, which had briefly pushed the price above $117,000 on Friday.

A major contributing factor to this downturn has been the large-scale selling activity from a single whale. On Sunday, a wallet reportedly dumped 24,000 BTC—worth over $2.7 billion—triggering a flash crash and significant downward pressure on the price. This whale, likely an early Bitcoin adopter, had acquired the coins at much lower levels, making the current price extremely profitable for the seller. The transaction not only pushed Bitcoin below key technical levels but also intensified market volatility and triggered cascading liquidations across the derivatives market.

Technical indicators have further confirmed the bearish sentiment. Bitcoin fell below both the 100-day EMA and the 200-day Simple Moving Average (SMA), which has historically served as a key support line in bull markets. The Relative Strength Index (RSI) on the daily chart has dropped to 38, indicating strong bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover last week, reinforcing the downside scenario. If Bitcoin fails to reclaim these key technical levels, the next potential support zone lies around $103,688, the 200-day EMA.

Despite the bearish outlook, some analysts have highlighted potential support levels that could stabilize the price and prevent a steeper fall. Short-term support is anticipated between $100,000 and $107,000, where the aggregate cost basis of short-term holders and the 200-day SMA intersect. Should Bitcoin break below this level, the next critical support zone would be in the $92,000–$93,000 range, representing the cost basis of investors who held coins for 3 to 6 months. These levels are considered crucial in identifying potential turning points in the market.

Institutional and corporate activity has shown signs of resilience amid the downturn. SoSoValue data indicates that Bitcoin Spot ETFs recorded a fresh inflow of $219 million on Monday, ending a six-day streak of outflows. This inflow suggests some level of confidence in Bitcoin despite the broader market weakness. On the corporate side, companies like Metaplanet and Strategy added 3,184 BTC to their reserves, signaling strategic accumulation during price dips. QCP Capital noted that while BTC appears to be ceding short-term momentum to ETH, the long-term structural view on BTC remains unchanged, with institutions expected to selectively buy dips during this period.

However, the market remains vulnerable to further corrections. Whale selling and ETF outflows have intensified, with institutional investors offloading Bitcoin in large volumes. For example, the Bitcoin OG wallet—worth $11.4 billion—deposited 22,769 BTC, valued at $2.59 billion, for sale on Hyperliquid while purchasing a significant amount of ETH. This shift in asset allocation has added pressure on Bitcoin’s price. Additionally, ETF outflows have continued to exacerbate the downturn, with spot Bitcoin ETFs recording $1.17 billion in weekly outflows, the highest since early March. If this trend persists, Bitcoin could face further turbulence as ETF managers offload BTC into an already fragile market.

The broader market environment also plays a role in shaping Bitcoin’s trajectory. Seasonal headwinds typically affect the cryptocurrency market in September, with historical data showing an average decline of 3.77% during bull market years. Analysts warn that this pattern could amplify the current bearish sentiment. However, economic data in the coming weeks—such as GDP figures, unemployment claims, and PCE inflation data—could provide relief if the U.S. economy shows signs of slowing down or inflation cools. These factors could influence risk appetite and potentially support a recovery in Bitcoin’s price.

Source: [1] Bitcoin drops under $109K — How low can BTC price go next (https://cointelegraph.com/news/bitcoin-drops-under-109k-how-low-can-btc-price-go-next) [2] Bitcoin Struggles as Whale Selling Overshadows Fed Rate ... (https://bravenewcoin.com/insights/bitcoin-btc-price-today-bitcoin-struggles-as-whale-selling-overshadows-fed-rate-cut-optimism) [3] How far could Bitcoin fall before finding support? (https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-slides-as-whale-sell-off-outweighs-powells-dovish-remarks-202508251044) [4] Bitcoin Price Forecast: BTC slips below ... (https://www.mitrade.com/insights/crypto-analysis/bitcoin/fxstreet-BTCUSD-202508261805) [5] Why is Bitcoin Going Down Today? BTC Price Falls Below ... (https://www.financemagnates.com/trending/why-is-bitcoin-going-down-today-btc-price-falls-below-109k-testing-2-month-lows/)