Bitcoin Price Tumbles to ~$110K After Whale Sell-Off and Fed Hype Fade
Bitcoin price sunk to around $109,972, falling nearly $2,017 from the previous close, as traders face renewed uncertainty. A massive whale unloading 24,000 BTC over the weekend triggered a sharp drop BTC plunged from $117K to about $111K within minutes, reversing early bullish moves following Fed dovish hints.
Bitcoin Price Reacts to Selling Pressure Despite Strong Institutional Support
Bitcoin had surged to nearly $117K after Fed Chair Powell’s Jackson Hole speech hinted at potential rate cuts. But that euphoria quickly faded, with the whale dump triggering liquidations, including $273M in BTC shorts, while ETH took in $296M.
The dip pushes BTC down over 4% for the week, hovering just above $110K. Analysts warn more short-term downside is possible, pointing to ETF outflows draining liquidity.
Still, long-term charts tell a different story. With over 150 corporate treasury holders controlling nearly 1M BTC, exchange reserves are scarce—below 15%, a level unseen since 2018.
Bernstein analysts maintain a bullish stance, projecting BTC could reach $200K by next year, fueled by institutional adoption, ETFs, and tighter supply.
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