Bitcoin plummets to $110,000: Market turbulence amid whale sell-offs, leveraged liquidations, and policy games
Recently, Bitcoin's price has significantly dropped, falling below $111,000, with a 24-hour decline of over 3%, resulting in more than 166,000 liquidations and losses reaching $840 million. This sharp decline is primarily influenced by three factors: first, early holders (whales) and miners are selling off in large volumes to cash out, increasing market selling pressure; second, the Federal Reserve's interest rate cut expectations have not been clearly established, and a stronger dollar has weakened Bitcoin's appeal; finally, the high-leverage derivatives market has exacerbated volatility, with price declines triggering a chain reaction of liquidations, creating a vicious cycle. Additionally, regulatory policy divergence and unusual large sell orders on exchanges have intensified market panic.
Despite short-term pressure, Bitcoin still has supporting factors in the long term. Technological innovations like sBTC are expected to activate the liquidity of dormant Bitcoin worth trillions, while institutions continuously increasing their ETF positions (such as Goldman Sachs, Harvard Endowment Fund) demonstrate long-term confidence. From a technical perspective, if the price can stabilize above $113,400, the market may gradually stabilize; otherwise, it could further dip into the $105,000-$110,000 range. Investors need to closely monitor on-chain data, macroeconomic policies, and institutional movements to respond to subsequent volatility. $BTC
