- Bitcoin price recoils into a tight range between $108,000 and $114,000 following its surge above $125,000.
- Long-term Bitcoin whales transferred over 5,300 BTC ($593M) to major exchanges, hinting at potential selling pressure.
- A top-performing trader doubled down on leveraged Bitcoin and Ethereum longs near key support, signaling confidence in a short-term price recovery.
Bitcoin price has increased 1.7% in the last 24 hours to trade at $111,234 as of 9:35 a.m. EST on a 25% drop in trading volume to $54.1 billion.
The price increase happens as US September CPI rises 0.2-0.3% month-over-month, softer than estimates. The CPI data released after a delay due to the U.S government shutdown came in below the 0.35% estimate, while annual inflation stood at 3%.
BTC Exchange Inflows Signal Caution
Data from Onchain Lens flagged a legendary Bitcoin whale, holding since the OG days, dumping another 100 BTC ($11.1 million) into Kraken, capping a two-week spree of 5,303 BTC ($593.67 million) across Coinbase, Binance, and Kraken.
This exchange influx, often a precursor to liquidation, coincides with rising spot premiums and could fuel further downside if sellers overwhelm the order book.
Echoing the rotation narrative, macro trader Nomad highlighted capital flipping aggressively toward Ethereum, with inflows surging as BTC dominance slips below 55%, a classic altseason harbinger that pressures King Crypto’s share.
Yet, not all signals scream bear. Lookonchain spotlighted “smart money” trader 0xc2a3, boasting a flawless 100% win rate and $15.4 million in profits, who added his ETH long to 33,270 tokens ($131.24 million) while layering on an 80 BTC ($8.9 million) 4x levered bet, scaling in near the $108,700–$109,100 dip.
This contrarian dip-buying from a proven player hints at rebound bets, potentially catalyzed by weekend ETF inflows or cooling inflation data.
Bitcoin Price Sideways Movement Throws Off Investors
Bitcoin’s blistering rally to all-time highs above $125,000 earlier this week hit a speed bump Friday, with the cryptocurrency recoiling sharply into a tight consolidation range around $108,000–$114,000.
Trading volume spiked modestly at 148,485 contracts on Binance, but the price action painted a picture of exhaustion, as sellers clashed with buyers in a yellow-boxed channel on the daily chart.
The 50-day simple moving average (SMA) looms overhead at $114,191, acting as stubborn resistance, while support holds tentatively near the $108,444 close (200-day SMA)
A closer look at the technicals sheds more light into the pullback’s momentum. The Relative Strength Index (RSI, 14) dipped to 46.97, flirting with oversold territory but signaling neutral ground after a brief oversold bounce earlier in the month.
Meanwhile the MACD remains bearish, with the histogram contracting but still below zero, hinting at fading upside conviction.
The Average Directional Index (ADX, 14) at 25.27 points to a moderate downtrend, while a green up-arrow on the price panel suggests potential for a short-term reversal if volume picks up. Overall, the setup indicates consolidation.
Bitcoin’s parabolic advance from February’s $94,000 lows has met profit-taking, trapping bulls in a potential symmetrical triangle pattern eyeing December’s projected $116,000–$130,000 targets.
Final Thoughts
As the weekend looms, Bitcoin hovers in limbo. A breakout above $114,000 could reignite the bull charge toward $130,000, but sustained whale outflows risk a retest of $100,000.
Traders brace for volatility as consolidation rarely lasts in this market. With Ethereum stealing the spotlight, the $3.9 trillion crypto complex braces for a pivotal shift.
Disclaimer: The facts and analysis presented here are only for informational purposes. Readers should not interpret the content of this article as financial advice or product recommendation.
