#MarketPullback

Bitcoin Holds 112K Support as Whale-Induced Drop Shakes Market Momentum.

Bitcoin (BTC) faces a crucial moment as it tests the 112K support level following a sharp market move. After rejecting resistance near 119K–120K, price action shows Bitcoin precariously holding above the support line established since May 22.

BTC Tests Critical Support Zone

The daily chart indicates Bitcoin has fallen back after strong resistance rejection. The 112K level has consistently acted as a springboard since the May high. A break below this line would mark a structural shift in the market.

Crypto analyst CrypFlow commented on the current setup, stating that RSI levels are hovering near 40. If this threshold is breached, it would indicate growing bearish momentum.

Stochastic RSI has indicated the existence of a bearish cross, indicating a decline in short-term momentum. So long as the bulls are unable to reestablish order, the downward run might widen to embrace the market as a whole.

The path forward remains clear: holding 112K could trigger a bounce toward the upper range. Conversely, a breakdown could open the door for a deeper correction.

Whale Activity Triggers Market Volatility

Recent trading activity shows a massive BTC whale dumped 24,000 coins, roughly $2.7 billion, across major exchanges. This triggered a $4K drop within minutes, causing cascading liquidations.

ZYN tweeted that no macro or news catalysts were responsible, confirming the move as a liquidation event rather than a natural market correction. Ethereum also dropped shortly after reaching a local high.

The whale still holds 152,874 BTC, valued at approximately $17 billion. The sell-off did not reduce the whale’s holdings, indicating a strategy to trigger liquidations rather than exit positions.#BTCWhalesMoveToETH #CryptoRally #Write2Earn #HEMIBinanceTGE $BTC