🚨 Bitcoin Update – $105K is the Last Stronghold?

Bitcoin’s Jackson Hole rebound quickly faded, with BTC now showing a bearish weekly engulfing candle – a classic sign of weakness.

📊 On-chain data insights:

All wallet groups are now in distribution mode, especially 10–100 BTC wallets (heavily selling).

Small wallets (<1 BTC) are still accumulating, but big whales (1,000+ BTC) remain consistent sellers.

The $105,000 zone is emerging as the last major support. If BTC loses this level, there isn’t much cost-basis support until $92K–$90K.

📌 Seasonal Factor:

August–September is historically weak for BTC (“Ghost Month”), averaging a 21% decline. That aligns with current pressure.

⚠️ ETF Fatigue:

The post-ETF hype seems to be fading. Analysts note BTC’s rally is more tied to a weakening USD than strong organic demand.

👉 In short:

Above $105K = relief chances

Below $105K = fast drop toward $92K–$90K zone

Stay sharp, traders. The next move around this level could decide Bitcoin’s direction for months.

@VIKAS JANGRA

#bitcoin #CryptoMarket