Bitcoin Slides Below $112K; Eyes $108K or $118K
Bitcoin price prediction: After a massive 24,000 BTC whale sell-off on Sunday, Bitcoin plunged under the critical $112K support, triggering over $550 million in long liquidations. BTC currently trades around $111K–$112K amid elevated volatility and cautious sentiment. Key indicators for this Bitcoin price prediction include extreme leverage risk highlighted by the cascading liquidations and ongoing supply-side pressure from large holders. Immediate support zones lie between $108K and $110K; failure to hold the $112K level could accelerate downside testing. Conversely, a successful reclaim of $112K may pave the way for a short-term rally toward $116K–$118K, provided market volatility eases and whale dumps subside. Traders should monitor margin metrics and whale wallet movements closely as they will shape near-term Bitcoin price prediction and market stability.
Bearish
The sudden dump of 24,000 BTC and subsequent breach of the $112K support mark a bearish signal. Over $550 million in long liquidations underscores the elevated leverage risk and potential for cascading sell-offs. Historically, similar flash crashes—such as May 2021’s sudden dip—led to short-term tests of lower support zones before any meaningful recovery. In the immediate term, market instability and whale supply pressure suggest further downside toward $108K–$110K. Only a decisive reclaim of $112K with reduced volatility could shift sentiment back to neutral or bullish. Thus, traders should prepare for potential short-term losses while monitoring key support levels and large-holder movements.