Bitcoin hit hard: $112K is BTC’s last stand after $190 mln wipeout
With $190M in long liquidations and rising sell pressure, BTC is taking a few punches to the nose.
Key Takeaways
Why is Bitcoin facing short-term downside pressure?
Bitcoin Exchange Inflows surged while outflows slowed, rising sell pressure and weaker bullish momentum.
Could Bitcoin see more volatility?
Yes, $190 million in Long Liquidations, including $16 million on Binance, shows potential for more downside.
Bitcoin [BTC] slipped, and the pressure is building. Exchange Inflow climbed while Exchange Outflow slowed down, a clear sign that more holders moved BTC onto platforms to sell.
On top of that, the market saw nearly $190 million in long positions liquidated in a single day, with $16 million coming from Binance traders alone.
It all points to rising short-term downside risks.
Mounting sell pressure
Bitcoin’s exchange flows showed why the price slipped to $112.7K before stabilizing near $113K at press time.
Outflows have weakened since the 20th of September, while inflows spiked to nearly 40K BTC around the 17th to 19th of September.
That surge was in tandem with BTC’s drop from $117K. Earlier in the month, during the rally of the 7th to 15th of September, outflows consistently outpaced inflows, supporting upside momentum.
Now, the reverse is true.
Inflows remain elevated while outflows stay muted, so there’s a possibility of short-term risk unless accumulation trends pick up again.
$190M long wipeout fuels volatility risks
Binance alone saw $16 million liquidated, so traders were possibly in shock. At press time, BTC recovered slightly to $113K, but the scale of liquidations shows growing fragility.
Speedy deleveraging often increases volatility, leaving Bitcoin vulnerable to further downside if selling pressure continues or more liquidations are triggered.
Key levels to watch
On the upside, immediate resistance sat near $114.3K at the 20-day EMA, followed by $116K, where the recent breakdown began.
A break below $112K could open the path toward $110K and beyond, while reclaiming $114K would reduce downside pressure.
With volatility elevated, BTC’s next move depends on whether bulls can hold the $112K-113K range or risk another leg lower.
