Bitcoin is facing renewed selling pressure, but so far, bears are struggling to push the price below the key $110,000 support. This level has emerged as a critical battleground for the market, with investors closely watching whether bulls can maintain control. Despite the broader volatility, Bitcoin’s resilience here is fueling speculation that once the current wave of selling pressure fades, BTC could be poised for another surge.
Fear is creeping in as traders weigh the risks of further corrections. Despite this, optimism lingers that Bitcoin’s underlying demand remains strong enough to sustain higher levels in the long run.
In addition, Adler points to the Net Flow 30D Z-Score of −0.7, which shows a moderate bias toward purchases relative to the annual baseline. This means that the coins entering exchanges are largely being absorbed, with demand effectively consuming the available supply. Adler emphasizes that “everything that comes to exchanges gets bought up,” while reserves continue to be spent to satisfy this steady appetite from buyers.
This type of activity often signals underlying strength in Bitcoin’s structure. While short-term volatility remains a concern, the reduced flow activity and steady absorption of supply hint at an accumulation phase. In the bigger picture, this dynamic supports the thesis that BTC is preparing for continuation once market sentiment shifts back in favor of buyers.
Bitcoin (BTC) continues to battle selling pressure, with the price currently hovering around $111,802. The 12-hour chart shows BTC pressing against a critical support zone, just above $111K, which has held multiple times over the past few months. A breakdown below this level could expose the market to deeper corrections toward the psychological $110K mark or even the 200-day moving average near $105K.
The moving averages are reflecting mixed momentum. The 50-SMA is rolling over, signaling near-term weakness, while the 100-SMA and 200-SMA remain below the current price, still reflecting longer-term bullish structure. For now, this suggests that while bears are pressing hard, bulls have not fully lost control.
On the resistance side, BTC continues to face a ceiling near $118,000, a level it failed to break on multiple attempts over the summer. Only a decisive breakout above this area would confirm renewed bullish momentum.
In the short term, volatility is expected to remain elevated as traders test the durability of this support zone. Holding above $111K would reinforce the bullish case, while a break lower risks shifting sentiment toward a more extended correction.
Featured image from Dall-E, chart from TradingView
