Bitcoin plummeted to its lowest points since July 8 after Wall Street commenced trading on Friday, with prices decreasing and traders rushing to reevaluate their short-term strategies.<\/p>\n
As reported by CoinGlass<\/a>, 24-hour crypto liquidations approached $540 million as selling pressure mounted on significant exchanges.<\/p>\n According to insights from market analysts, considerable selling by major holders contributed to the decline. Distribution trends on Binance were identified by traders as a crucial factor that exacerbated losses.<\/p>\n Bitcoin<\/a> fell by nearly 5% over the day, with several large accounts associated with the surge of sales that triggered stop orders and rapid exits.<\/p>\n Prominent trader Daan Crypto Trades highlighted a \u201ckey reversal zone\u201d at recent ranges and consolidation levels.<\/p>\n Some analysts had similar price benchmarks on their radar, observing that Bitcoin did not manage to convert $112,000 into a support level. Other market participants indicated that $114,000 represents a significant weekly closing threshold for bulls.<\/p>\n Technical analysts noted a positive signal. As per crypto commentator Javon Marks, the four-hour chart still displays a bullish RSI divergence<\/a> \u2014 a scenario where the RSI records higher lows while the price marks lower lows. This setup may indicate a potential early turnaround.<\/p>\n $BTC<\/a> Promising area to keep monitoring. Right at the top of the previous range & consolidation area. https:\/\/t.co\/WEaG2IF6nV<\/a> pic.twitter.com\/Y7RftSqDio<\/a><\/p>\n \u2014 Daan Crypto Trades (@DaanCrypto) August 29, 2025<\/a><\/p>\n<\/blockquote>\n Marks opined that Bitcoin might be able to recover. He proposed a potential rise back toward $123,000, which would signify approximately a +14% increase from current price levels. This estimation is optimistic and relies on momentum shifting swiftly in favor of buyers.<\/p>\n Seasonal trends and macroeconomic indicators exerted additional pressure. Historically, September has been one of Bitcoin\u2019s weaker months, and investors were closely monitoring US inflation<\/a> figures.<\/p>\n The Federal Reserve\u2019s preferred inflation indicator<\/a>, the Personal Consumption Expenditures index, aligned with expectations and indicated signs of a rebound in inflation.<\/p>\nRelated Reading<\/span><\/h2>\n<\/p>\n
Whales And Exchange Distribution Strain<\/h2>\n
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Bullish RSI Divergence Maintains A Glimmer Of Optimism<\/h2>\n
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Macro Data, Seasonal Weakness Present Challenges<\/h3>\n