Bitcoin Price Drops Near $109K After Massive Whale Sell-Off
Bitcoin Price: Key Highlights
- Price Movement: As of today, Bitcoin trades around $111,373, down after slipping to roughly $109,500 earlier—its lowest in seven weeks.
- Main Catalyst: A single whale dumped 24,000 BTC, valued at over $2.7 billion, accelerating a sharp price decline and triggering over $700 million in liquidations.
- Market Context: The price drop comes amid broader risk-off sentiment, with traders bracing for further corrections.
What’s Behind the Move
Whale Impact
A massive offloading event from a large holder sparked panic selling. Markets reacted swiftly, pushing Bitcoin below the critical $110K support level and squeezing leveraged positions.
Weak On-Chain Indicators
Trading activity and blockchain data suggest reduced network engagement, signaling low momentum and limited buying pressure during the drop.
Recent Technical Weakness
Bitcoin broke key trendlines and price zones last week. The current bounce toward $111K is fragile, and resistance near $112K–$113K may limit recovery in the short term.
Quick Summary Table
| Factor | What It Means |
|---|---|
| Whale sell-off | Large-scale selling triggered sharp price drop |
| Crypto liquidations | Over $700M in leveraged positions were forced out |
| Low buying momentum | On-chain metrics show weak accumulation |
| Technical resistance | $112K–$113K is a tough ceiling for near-term gains |
Final Insights & Smart Tips
- Be cautious with size and timing. Major dips like today’s are triggered by big players—timing entries requires more caution until markets stabilize.
- Watch support zones. If Bitcoin falls below $110K again, the next noteworthy range is $107K–$105K. Long-term traders may use that to assess buying interest.
- Liquidity matters. Avoid trading during extreme volatility—spreads widen and orders can slip. Using limit orders or waiting for market calm often helps.
- Understand “whale activity.” Volume spikes often suggest large players are acting. That can mean big moves—but it’s not always predictive. Use this signal alongside chart levels, macro data, and your own risk plan.
Edmilson Dias is the founder of CoinBringer, a site dedicated to educating people about cryptocurrency and helping users navigate the crypto space safely and responsibly. A passionate advocate for digital security and financial education, Edmilson Dias has spent years researching the blockchain ecosystem and translating complex concepts into accessible, practical content for beginners and experienced users alike.With a mission to build a safer and smarter crypto community, he focuses on creating high-quality tutorials, safety tips, and trustworthy insights to empower others in the rapidly evolving world of digital assets.
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