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Bitcoin Faces Bearish Pressure As Exchange Inflows Stay Elevated – Will BTC Lose $112,000 Support?
According to data from Coinglass, the crypto market saw liquidations worth more than $1.6 billion over the past 24 hours, with the majority of them being long positions. Elevated exchange inflows threaten to crash Bitcoin (BTC) further below the important support level at $112,000. Bitcoin Tumbles, Will It Lose $112,000? Bitcoin fell from around $116,000 to as low as $111,800 earlier today, as the broader cryptocurrency market experienced volatility amid concerns about the US government shutdown. Prediction markets on Kalshi are currently giving a 70% chance of a shutdown in 2025. Related Reading: Bitcoin Exchange Supply Ratio Declines After Fed Cut, Setting Stage For $120,000 Test Commenting on today’s BTC price action, CryptoQuant contributor PelinayPA remarked that at the end of August and early September, almost 65,000 BTC were withdrawn from exchanges, which coincided with a price recovery in the digital asset. The analyst shared the following chart, which shows BTC withdrawals from exchanges. Typically, large outflows from trading platforms indicate that investors are moving their holdings to personal wallets – reducing immediate selling pressure and signaling a bullish trend. That said, recent trends suggest that such outflows have weakened. Specifically, since September 20, exchange data shows that more investors are choosing to keep their coins on exchanges. PelinayPA shared another chart which shows BTC deposits to exchanges. Notably, between September 17 and 19, Bitcoin inflows to exchanges surged to nearly 40,000, while the price tumbled to $117,000. For the uninitiated, high BTC inflows to exchanges usually imply that investors are moving their coins from private wallets to platforms where they can be sold, signaling increased selling intent. This creates short-term bearish pressure on price, as higher supply on exchanges can outweigh demand. The CryptoQuant analyst added that during the rally between September 7 and 15, BTC outflows from exchanges exceeded inflows, supporting bullish momentum. However, inflows surpassed outflows after September 17, triggering strong selling pressure and pushing BTC down to $112,700. She concluded: Inflows remain high while outflows are relatively weak, indicating short-term downside pressure. If outflows increase again, signaling accumulation, BTC could rebound strongly from the $112K zone. Otherwise, further downside risk remains. Should BTC Holders Be Worried? Bitcoin’s fall to $112,000 should not come as a surprise. Recent on-chain data had already hinted that BTC could be in trouble due to a lack of whale participation in the recent rally. Related Reading: Bitcoin Market Faces Supply Squeeze As Scarcity Index Turns Positive Again It is worth highlighting that BTC’s latest fall in price came shortly after the US Federal Reserve (Fed) cut interest rates by 25 basis points. Although the flagship cryptocurrency fell, experts believe that it is still far from a real capitulation. CryptoQuant CEO Ki Young Ju recently predicted that BTC could top out at $208,000 during the ongoing market cycle. At press time, BTC trades at $113,175, down 2.1% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
Ethereum Price Drops Hard – $4,000 Now Crucial Line Between Bulls and Bears
Ethereum price started a fresh decline below $4,250. ETH is now consolidating and might decline further if it breaks the $4,120 support zone. Ethereum failed to extend gains and declined below the $4,250 zone. The price is trading below $4,280 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $4,360 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it settles above $4,250 and $4,320. Ethereum Price Dips Sharply Ethereum price failed to continue higher above the $4,550 zone and started a fresh decline, like Bitcoin. ETH price declined below the $4,450 and $4,350 support levels. The bears even pushed the price below $4,120. A low was formed at $4,000 and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward wave from the $4,636 swing high to the $4,000 low. Ethereum price is now trading below $4,300 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,220 level. The next key resistance is near the $4,250 level. The first major resistance is near the $4,320 level and the 50% Fib retracement level of the downward wave from the $4,636 swing high to the $4,000 low. A clear move above the $4,320 resistance might send the price toward the $4,360 resistance. There is also a key bearish trend line forming with resistance at $4,360 on the hourly chart of ETH/USD. An upside break above the $4,360 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,450 resistance zone or even $4,550 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,220 resistance, it could start a fresh decline. Initial support on the downside is near the $4,120 level. The first major support sits near the $4,050 zone. A clear move below the $4,050 support might push the price toward the $4,000 support. Any more losses might send the price toward the $3,880 region in the near term. The next key support sits at $3,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $4,120 Major Resistance Level – $4,360
Bitcoin Faces Bearish Pressure As Exchange Inflows Stay Elevated – Will BTC Lose $112,000 Support?
According to data from Coinglass, the crypto market saw liquidations worth more than $1.6 billion over the past 24 hours, with the majority of them being long positions. Elevated exchange inflows threaten to crash Bitcoin (BTC) further below the important support level at $112,000. Bitcoin Tumbles, Will It Lose $112,000? Bitcoin fell from around $116,000 to as low as $111,800 earlier today, as the broader cryptocurrency market experienced volatility amid concerns about the US government shutdown. Prediction markets on Kalshi are currently giving a 70% chance of a shutdown in 2025. Related Reading: Bitcoin Exchange Supply Ratio Declines After Fed Cut, Setting Stage For $120,000 Test Commenting on today’s BTC price action, CryptoQuant contributor PelinayPA remarked that at the end of August and early September, almost 65,000 BTC were withdrawn from exchanges, which coincided with a price recovery in the digital asset. The analyst shared the following chart, which shows BTC withdrawals from exchanges. Typically, large outflows from trading platforms indicate that investors are moving their holdings to personal wallets – reducing immediate selling pressure and signaling a bullish trend. That said, recent trends suggest that such outflows have weakened. Specifically, since September 20, exchange data shows that more investors are choosing to keep their coins on exchanges. PelinayPA shared another chart which shows BTC deposits to exchanges. Notably, between September 17 and 19, Bitcoin inflows to exchanges surged to nearly 40,000, while the price tumbled to $117,000. For the uninitiated, high BTC inflows to exchanges usually imply that investors are moving their coins from private wallets to platforms where they can be sold, signaling increased selling intent. This creates short-term bearish pressure on price, as higher supply on exchanges can outweigh demand. The CryptoQuant analyst added that during the rally between September 7 and 15, BTC outflows from exchanges exceeded inflows, supporting bullish momentum. However, inflows surpassed outflows after September 17, triggering strong selling pressure and pushing BTC down to $112,700. She concluded: Inflows remain high while outflows are relatively weak, indicating short-term downside pressure. If outflows increase again, signaling accumulation, BTC could rebound strongly from the $112K zone. Otherwise, further downside risk remains. Should BTC Holders Be Worried? Bitcoin’s fall to $112,000 should not come as a surprise. Recent on-chain data had already hinted that BTC could be in trouble due to a lack of whale participation in the recent rally. Related Reading: Bitcoin Market Faces Supply Squeeze As Scarcity Index Turns Positive Again It is worth highlighting that BTC’s latest fall in price came shortly after the US Federal Reserve (Fed) cut interest rates by 25 basis points. Although the flagship cryptocurrency fell, experts believe that it is still far from a real capitulation. CryptoQuant CEO Ki Young Ju recently predicted that BTC could top out at $208,000 during the ongoing market cycle. At press time, BTC trades at $113,175, down 2.1% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
Ethereum Price Drops Hard – $4,000 Now Crucial Line Between Bulls and Bears
Ethereum price started a fresh decline below $4,250. ETH is now consolidating and might decline further if it breaks the $4,120 support zone. Ethereum failed to extend gains and declined below the $4,250 zone. The price is trading below $4,280 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $4,360 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it settles above $4,250 and $4,320. Ethereum Price Dips Sharply Ethereum price failed to continue higher above the $4,550 zone and started a fresh decline, like Bitcoin. ETH price declined below the $4,450 and $4,350 support levels. The bears even pushed the price below $4,120. A low was formed at $4,000 and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward wave from the $4,636 swing high to the $4,000 low. Ethereum price is now trading below $4,300 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,220 level. The next key resistance is near the $4,250 level. The first major resistance is near the $4,320 level and the 50% Fib retracement level of the downward wave from the $4,636 swing high to the $4,000 low. A clear move above the $4,320 resistance might send the price toward the $4,360 resistance. There is also a key bearish trend line forming with resistance at $4,360 on the hourly chart of ETH/USD. An upside break above the $4,360 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,450 resistance zone or even $4,550 in the near term. Another Decline In ETH? If Ethereum fails to clear the $4,220 resistance, it could start a fresh decline. Initial support on the downside is near the $4,120 level. The first major support sits near the $4,050 zone. A clear move below the $4,050 support might push the price toward the $4,000 support. Any more losses might send the price toward the $3,880 region in the near term. The next key support sits at $3,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $4,120 Major Resistance Level – $4,360