In the midst of market panic selling, the range of 112,000-114,000 has swallowed 350,000 BTC. Is this mysterious buying by desperate retail investors, or are institutions laying a grand trap?
At the beginning of August, the crypto market was hit by a 'black swan' triple blow, with Trump's new tariff policy, explosive employment data, and nuclear submarine deployments all combining to hit Bitcoin, which plummeted over 3% in a day from nearly $120,000, while Ethereum suffered an even steeper drop of 6%, with over $940 million in long positions evaporating instantly.
In a chorus of wails, on-chain data reveals a shocking scene: the range of 112,000 to 114,000 has actually swallowed 351,000 BTC! In just two days, 80,000 BTC were added, which is not panic selling at all; it is clearly the whales opening their bloodthirsty mouths to devour assets.
Why is this position so critical?
Technical analysts understand — this is the 'lower track' of the trend channel's 'lifeline'. If it drops below 112,000, Bitcoin could slide into the abyss of 80,000; however, if it can hold its ground, a rebound aiming for 124,000 is not a dream. More subtly, a strong resistance wall has formed at 117,000-118,000, where a massive amount of 720,000 BTC has accumulated, resulting in fierce battles between bulls and bears.
The market appears to be shaky, but actually hides three flames:
Exchange BTC inventory has plunged to a five-year low, with only 2.5 million left, a reduction of 500,000 since the end of last year! Long-term holders are quietly locking up their positions;
Institutions are watching closely, over 75% of large funds have stated they will increase their investment in digital assets by 2025;
The options market has already bet: by the end of August, call options are densely positioned between 118,000-126,000, and smart money has already made secret maneuvers.
In terms of operations, the old expert suggests: buy in batches around 112,000, reduce holdings if there is stagnation above 117,000, and keep enough cash on hand. Pay close attention to two signals: whether ETF funds are returning, and whether volatility is converging.
Currently, Bitcoin is repeatedly trading in the narrow range of 112,000-117,000. Is this 350,000 BTC turnover a solid bottom or a continuation of the decline? August has traditionally been a 'quiet month' for Bitcoin; after July's scorching heat, is this fluctuation the calm before the storm, or the roar of a new bull market engine?
While most people are trembling at the K-line, the whales have already opened their giant mouths in the undercurrents.
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