Bitcoin Price Correction to $110K as Exchange Outflows Rise
Bitcoin price correction deepened to around $110,000 after an 8% pullback from recent highs. Analysis of exchange netflows shows sustained outflows exceeding $250 million in August, suggesting holder accumulation, while significant inflows above $200 million on key dates have historically coincided with local tops and short-term pullbacks. After trading between $95,000 and $122,000 over recent weeks, Bitcoin’s drawdown is modest compared to prior 20%+ declines in 2024 and early 2025. Analyst IT Tech on X notes that these fluctuations align with typical long-term market cycles and do not indicate structural weakness. The current support zone near $108,000–$110,000 is critical: continued outflows alongside stable prices would point to accumulation and reduced on-exchange liquidity. Traders should monitor exchange outflows and inflows closely. Spikes in inflows above $200 million, such as those on August 9 and 22, have preceded short-term tops. Conversely, days with outflows exceeding $250 million may signal deeper accumulation ahead. Overall, this Bitcoin price correction reflects normal volatility within a broader uptrend. Maintaining position sizing and stop levels around the $108k–$110k support zone can help manage risk and capitalize on potential bullish continuation.
Bullish
We categorize this development as bullish. Sustained exchange outflows exceeding $250 million indicate that holders are moving Bitcoin off exchanges into private storage, reducing available supply and signaling accumulation. Historically, speculative inflow spikes above $200 million have often marked local tops and preceded short-term pullbacks, but the current trend of limited inflows alongside significant outflows suggests diminished selling pressure. Moreover, an 8% pullback is modest compared to past 20%+ corrections, which did not derail the broader uptrend in 2024 and early 2025. Similar scenarios have typically resulted in consolidation around key support—currently $108,000–$110,000—before renewed upward moves. In both the short term and long term, these patterns favor a market rebound, provided netflows remain weighted toward outflows. Traders could interpret this as an opportunity to adjust position sizing and add exposure near support levels ahead of a potential bullish resumption.