Bitcoin Market Outlook: Key Signals to Watch
Current Market Status
BTC trading at $111,262, down 11% from ATH of $124,457
Strong support forming in the $110K–$111K range
61.72% long positions despite net outflows
Technicals: RSI nearing oversold (75% bearish accuracy), MACD showing early bullish reversal signs (57.7% accuracy)
Whale & On-Chain Insights
A major whale accumulated 2,219 BTC ($249M) in August
Dormant whale moved 3,500 BTC ($408M) after three years
ETF inflows at four-month lows, fueling selling pressure
Miner fair value at $167K highlights potential undervaluation
Trading Opportunities
Break above $112K could open path to retest ATH at $124K
Inverse H&S and double-bottom patterns hint at reversal potential
Options traders may benefit from elevated put premiums
Whale accumulation zones ($110K–$111K) present key entry signals
Community Sentiment:
71.5% remain bullish, anticipating a rebound from support.