Bitcoin Slumps After $2.7B Whale Sell-Off; Technical Indicators Signal Further Downside
Bitcoin price weakened sharply after a $2.7 billion whale sell-off triggered over $846 million in forced liquidations and drove the token below key support near $110,000. Technical indicators signal trend fragility: ADX at 16 indicates low trend strength, RSI around 42 shows growing selling pressure, and the Squeeze Momentum Indicator suggests a potential volatility breakout. Meanwhile, Ethereum remains technically resilient with ADX at 41, a bullish 50–200 EMA spread, and an RSI near 59. Total crypto market capitalization fell 2.4% to $3.83 trillion. Traders should tighten stop-losses, reduce leverage, and monitor Bitcoin support levels at $110,500 and $107,000. A clear volatility release or confirmed support test could offer safer entry points.
Bearish
The $2.7 billion whale sell-off triggered over $846 million in liquidations, pushing Bitcoin price below critical support and weakening key indicators (ADX below 20, RSI under 50). Historically, similar large-scale dumps—such as in mid-2021—led to extended downtrends and heightened volatility. With technical metrics signaling low trend conviction and increased selling pressure, short-term bias is bearish. Traders are likely to tighten risk controls and reduce leverage, which can dampen buying interest and prolong downward pressure. Long-term recovery will depend on holding support around $107,000, but immediate outlook remains negative.