Bitcoin $112,000 support is the key short-term level: if BTC holds above $112,000 a rebound toward $120,000 becomes likely, while a breakdown could push prices to $110,500–$111,000. Immediate risks include large whale sales, $1.17B ETF outflows and $264M in recent liquidations.
Bitcoin defends $112,000 support; a close above it favors a move to $120,000.
Whale sale of 24,000 BTC and ETF outflows of $1.17B increased short-term selling pressure.
Derivatives liquidations of $264.04M (24h) and $45.26B daily volume signal heightened volatility.
Bitcoin $112,000 support crucial for rebound to $120,000 — watch whale sales, $1.17B ETF outflows and $264M liquidations. Read full market analysis now.
What is the near-term outlook for Bitcoin $112,000 support?
Bitcoin $112,000 support is the immediate demand zone traders monitor; holding this level increases the probability of a rebound toward $120,000 in the short term. If BTC fails to defend $112,000, sellers could press price into the $111,000–$110,500 range, amplifying volatility.
How did whale sales and ETF outflows impact Bitcoin’s price action?
Large transfers and ETF redemptions raised selling pressure and triggered rapid price moves. A reported whale transfer of 24,000 BTC coincided with a near-term $4,000 drop. Spot Bitcoin ETFs recorded net outflows of $1.17B between August 18–22, adding institutional outflow risk. These flows, combined with $264.04M liquidated in derivatives over 24 hours, increased market sweep and volatility.
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On the four‑hour chart, repeated rejection near $123,000 and resistance at $117,600 suggest supply remains strong above current levels. The $112,000 area has acted as a vital demand zone, with buyers stepping in multiple times this month, according to market observers referencing on‑chain and price action data.
If Bitcoin holds above $112,000, the path toward retesting $120,000 opens, while a break could target $111,000–$110,500. Bitcoin traded at approximately $111,735 at the time of reporting, with 24‑hour volume at $45.26 billion and a weekly decline near -1.6%.
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Source: https://en.coinotag.com/bitcoin-may-rebound-toward-120000-if-112000-support-holds-amid-whale-sales-etf-outflows-264m-liquidations/