Bitcoin ($BTC ) Faces HODLer Pressure and Profit-Taking Spike: Is $114K a Weak Support Zone?

Bitcoin #HODLers Under Pressure Amid $3B Profit-Taking Spike

Bitcoin (BTC) has entered a phase of heightened HODLer pressure following a notable surge in profit-taking. On 16 August, over $3 billion in realized gains hit the market, marking the largest profit-taking spike of the month. The cryptocurrency reacted with an intraday dip of 1.9%, pulling its price down to $114,707 and starting the week in negative territory.

While #Bitcoin is still just a week past its all-time high (ATH), analysts are debating whether $114K is forming a strong accumulation zone or simply a temporary resting point. Compared to $110K, this level remains above key support clusters, leaving room for a deeper retest in the near term.

On-Chain Insights: Cost-Basis Clusters and Supply Zones

According to Glassnode data, Bitcoin’s largest cost-basis cluster sits at $116,963, encompassing over 700,000 BTC — roughly 3.61% of total supply. This makes it a major supply zone that could act as either resistance or an anchor for pullbacks.

In simpler terms, the $114K level might attract buyers, but with a heavy supply cluster near breakeven, the risk of a margin squeeze is rising. Analysts suggest that $110K is a more probable liquidity grab zone, where buying activity could resume more aggressively.

Additionally, the Bitcoin Accumulation Trend Score, a key metric tracking HODLer behavior, flipped orange for the first time this month, dropping sharply from 0.57 to 0.20 in under a week. This reflects a clear slowdown in HODLer stacking, even at discounted price levels.

Market Caution and Cooling FOMO

The combination of HODLer pressure and cooling FOMO (Fear of Missing Out) has shifted the market dynamics. Currently, ask-side supply is dominating, leaving bid-side support relatively weak.

This imbalance explains Bitcoin’s nearly 8% pullback from its #ATH , which isn’t random but driven by order-flow dynamics....

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