📉 || Bitcoin Sell Pressure Intensifies as $105K Bid Liquidity Emerges )

Bitcoin faced heightened selling pressure during Tuesday’s Wall Street open, with prices tumbling toward two-week lows amid a sharp dip in U.S. equities. Despite continued institutional inflows, market participants are now closely monitoring liquidity levels, technical barriers, and ETF demand to gauge the next decisive move.

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✦ Key Market Developments

BTC/USD dips below $114,000 as U.S. equities decline, with the Nasdaq Composite Index down 1.2%.

Over $116M in long liquidations occurred within just one hour, underscoring intense sell-side momentum.

Bid orders cluster between $107K–$110K, highlighting potential short-term support.

Institutional ETF flows diverge from on-chain data, raising questions about market stability.

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✦ Technical Overview – Weakness Under Pressure

According to data from Cointelegraph Markets Pro and TradingView, Bitcoin fell sharply to test support below $114,000. This move coincided with heightened volatility across U.S. equities, reinforcing Bitcoin’s correlation with traditional risk assets.

Keith Alan, cofounder of Material Indicators, noted that the $107K–$110K price band is now in focus, warning that the current move reflects “palpable” downward pressure rather than strength.

100-day SMA: Positioned at $110,950, acting as a critical support threshold.

50-day SMA: Near $115,875, which bulls must reclaim to reestablish momentum.

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✦ Liquidity Dynamics – “Plunge Protection” at $105K

Material Indicators highlighted a $25 million liquidity wall at $105,000, describing it as a potential safeguard against further downside. However, analysts cautioned that this order cluster may not be intended for execution, but rather to influence liquidity positioning upward.

“If price fails to stabilize, these bids could be withdrawn before ever filling,” the firm explained.

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✦ Institutional Demand – ETFs in the Spotlight

Despite weakening on-chain fundamentals, U.S. spot Bitcoin ETFs remain a pivotal factor. Glassnode reported that ETF inflows have provided a degree of support, even as profit-taking pressures increase.

Still, ETF activity has turned mixed:

On Monday, U.S. Bitcoin ETFs recorded net outflows of $121 million, according to Farside Investors.

BlackRock’s flagship iShares Bitcoin Trust (IBIT) saw its first outflows since Aug. 5, signaling a shift in institutional sentiment.

“The sustainability of institutional flows will be critical in determining whether Bitcoin regains upward momentum or faces deeper consolidation,” Glassnode observed.

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✦ Outlook – Caution Ahead

With liquidity clustering around $105K and ETFs showing early signs of cooling, traders are preparing for heightened volatility. The $110K–$112K zone is emerging as a near-term battleground, while failure to hold could open the door to a deeper retracement.

For now, Bitcoin’s path forward rests on whether institutional inflows remain resilient enough to counterbalance rising profit-taking and weakening on-chain activity.

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🔎 Bottom Line:
Bitcoin is navigating a fragile market phase where liquidity defense levels, technical barriers, and ETF flows will dictate whether the current contraction becomes a healthy consolidation or accelerates into a deeper correction.
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