Cryptocurrency markets are experiencing rising tension after Bitcoin fell below $112,000 on August 24, in a decline analysts describe as more than a minor correction. Realized losses reached around $600 million, followed by leveraged long liquidations exceeding $475 million, the largest since April.
اضافة اعلان
The $110,000 level now stands as the last line of defense against further declines. The price touched this level several times, hitting a low of $108,761.
From a technical standpoint, the market structure has turned bearish after Bitcoin failed to hold at $112,000—a level that previously helped push it to a historical high near $123,000 earlier this month. The drop coincided with selling from investors with high purchase costs trying to minimize losses, accelerating market pressure.
Interestingly, sentiment indicators did not show extreme panic. The Fear & Greed Index recorded 47 points, in neutral territory, while open interest in futures contracts remained low, indicating leveraged speculation has decreased. Meanwhile, spot investment funds saw modest inflows, insufficient to change the market trend.
Additional data adds to the negative outlook. A report from CryptoQuant showed the 30-day Taker Buy/Sell Ratio fell to its lowest level since 2018, reflecting sustained selling pressure. On Binance specifically, the ratio dropped to 0.95, which analysts consider a sign of heavy selling—though it can sometimes precede a strong rebound via a short squeeze.
Some analysts believe the current pullback may not mark the end of the bullish cycle but rather a natural correction within an extended uptrend since Bitcoin recovered from $15,000 in late 2022. The immediate challenge is whether Bitcoin can defend the $111–113K range, which also coincides with its 100-day moving average.
If this range holds, a rebound wave could occur. A breakdown, however, could open the door to a deeper decline toward $105–107K, and possibly even test $100K if negative investor sentiment persists.
Meanwhile, Ethereum continues attracting strong capital inflows, exceeding $1 billion via its investment funds in recent days, reflecting a shift of liquidity away from Bitcoin at this stage. In the absence of major economic catalysts, such as a change in Federal Reserve policy, Bitcoin remains vulnerable to further pressure as traders await a solid base for a renewed rally or a longer period of volatility and correction.
