Bitcoin (BTC) Prijs instorten tot $ 111k signalen problemen

Key Takeaways

• Bitcoin’s price has fallen from $116,885 to $111,682 in three days, triggered by a $2.59 billion sell-off.
• BTC is trading inside a descending channel, below the Ichimoku Cloud, and has formed a death cross.
• Analysis shows that the price could fall toward $105,400 or even $93,571 if bearish momentum continues.

Bitcoin (BTC) has seen spectacular rises and gut-wrenching drops before, but this fall to $111,000 carries a different weight.

Not long ago, Bitcoin’s price seemed destined to begin its run toward $150,000.

Then, the weekend happened. Within the past three days, Bitcoin’s price has fallen from $116,885 to $111,682.

This decline has exposed the flagship cryptocurrency to an extended decline.

In this analysis, CCN reveals what led to the price fall and what lies ahead for BTC in the short term.

Bitcoin Nosedives

According to data from Coinglass, Bitcoin’s flash crash triggered liquidations of more than $30 million in open positions, leaving overleveraged traders in losses.

CCN’s findings suggest that one factor behind Bitcoin’s decline was a massive sell-off by a long-term holder.

Data from Lookonchain shows that a trader who had held 100,784 BTC for over seven years — worth about $642 million at the time of acquisition — moved to liquidate part of the stash.

Now valued at $11.4 billion, the trader deposited $2.59 billion worth of BTC into Hyperliquid to sell. Interestingly, a large portion of the proceeds was used to buy Ethereum (ETH) and open long positions.

Following the development, the 4-hour chart shows that Bitcoin’s price continued to trade in a descending channel.

At the same time, the Awesome Oscillator (AO) has sunk deep into negative territory, confirming that sellers remain in control.

A closer look at the chart also reveals that BTC has slipped below the Ichimoku Cloud. This move signals weakness in both trend and momentum.

BTC/USD 4-Hour Chart | Credit: TradingView

As long as Bitcoin’s price remains beneath the cloud, it risks falling below support at $108,310 and resistance at $116,930.

Dominance Drops to January Lows

Beyond the price chart, Bitcoin’s dominance (BTC.D) has dropped to 58.21%, its lowest level since January. This decline signals that altcoins are gaining relative strength against BTC.

Adding to the bearish picture, the Exponential Moving Averages (EMA) on the daily chart have formed a death cross, with the 20 EMA (blue) sliding below the 26 EMA (orange) on the daily chart.

Should BTC.D fail to break above the support breached, the coin’s price might continue falling as stated earlier.

BTC.D Daily Chart | Credit: TradingView

BTC Price Prediction: Lower

Zooming into the daily chart, CCN observed that Bitcoin had been trading inside an ascending channel.

However, as of this writing, the coin has broken below the channel’s support line, signaling a shift in momentum.

At the same time, the Relative Strength Index (RSI) has slipped below the 50.00 mark, confirming weakening buying strength and tilting momentum in favor of the bears.

Since BTC has broken below the rising trendline, its market value could decline by $105,400 at the 0.618 golden pocket ratio.

BTC/USD Daily Chart | Credit: TradingView

In a highly bearish case that sees more capital rotate into altcoins, Bitcoin might fall to $93,571.

However, if demand for Bitcoin increases, this trend might change, and the coin might rally to $124,548.

Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

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