Bitcoin (BTC) Price Today: Bitcoin Slides 2.65%, Retests $115K Support Amid Inflation-Driven Market Turmoil

Bitcoin price today slipped 2.5%, falling back toward the $115,000 support zone after touching an intraday low of $114,950 during the European session.

The decline extended a multi-day retracement from last week’s record high of $124,500. According to data from Brave New Coin, BTC has been oscillating between $115,008 and $118,519, reflecting heightened volatility.

Ethereum and other major altcoins also mirrored the pullback. ETH retreated over 6%, while the total crypto market capitalization slipped as traders adopted a defensive stance ahead of key macroeconomic events.

Technical Analysis: Bitcoin Tests 50-Day EMA

The recent decline has brought Bitcoin technical analysis into sharper focus. BTC briefly pierced the 0.618 Fibonacci retracement of its August rally and is now testing support at the 50-day exponential moving average (EMA).

Bitcoin risks a bearish reversal if it fails to hold the 50-EMA as support. Source: TradingShot on TradingView

Over $30 million in long positions were liquidated as prices broke through key intraday supports, according to derivatives market trackers. Analysts caution that a sustained drop below the EMA could expose BTC to deeper losses, with $112,000 flagged as the next major risk zone.

Some traders interpret the recent sell-off as a healthy reset for the market. The sharp decline has cleared out excessive leveraged positions, potentially setting the stage for a more stable recovery if buying interest returns around the $115,000 support region.

Institutional Activity: Whales and Treasury Firms Keep Accumulating

Despite near-term turbulence, institutional accumulation remains a consistent theme in Bitcoin news today. Dutch asset manager Amdax announced plans to list its new Bitcoin treasury vehicle, AMBTS, on Euronext Amsterdam, targeting an eventual holding of 1% of total BTC supply.

Bitcoin’s Coinbase Premium has reached a monthly high even as BTC price declines, signaling unusual market dynamics. Source: @cas_abbe via X

Meanwhile, Tokyo-listed firm Metaplanet, often compared to MicroStrategy, purchased another 775 BTC for approximately $93 million at an average price of $120,006. This brings its total reserves to 18,888 BTC.

“Market corrections offer us an opportunity to strengthen long-term positions,” said Metaplanet president Simon Gerovich in a recent statement.

Such moves highlight a growing conviction among Bitcoin whales and institutions, even as retail sentiment cools.

Macro Drivers: Inflation and Geopolitics Weigh on Risk Assets

Beyond charts and technicals, macro dynamics continue to steer Bitcoin’s trajectory. Investors are closely watching the upcoming Jackson Hole symposium, where central bankers are expected to clarify monetary policy outlooks. Hopes of aggressive rate cuts have faded, dampening the risk appetite across equities and crypto alike.

Bitcoin (BTC) was trading at around $115,247, down 2.65% in the last 24 hours at press time. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

Geopolitical uncertainty is another factor. A scheduled meeting between U.S. President Trump and Ukrainian President Zelenskiy has traders alert for developments that could Ripple through global markets. In parallel, Washington has advanced its Strategic Bitcoin Reserve initiative, using seized Treasury-held BTC to bolster national digital holdings—a sign of growing state-level involvement in crypto assets.

Despite the bearish momentum, institutional demand and structural scarcity remain intact. The upcoming halving is expected to tighten supply, and consistent ETF inflows could help Bitcoin regain upward momentum.

Looking Ahead: What’s Next for Bitcoin Price Prediction?

For now, Bitcoin price today is at a crossroads. Short-term sentiment hinges on whether BTC can defend $115,000 and the 50-day EMA. A decisive breakdown could trigger a slide toward $112,000, while a rebound may set the stage for another test of resistance above $118,500.

Bitcoin is retesting a key support zone after a sharp sell-off, with liquidity sweeps suggesting possible smart money accumulation ahead of a reversal. Source: Jamtara_Trader on TradingView

Looking further ahead, catalysts such as Bitcoin ETF news, halving in 2025, and ongoing institutional accumulation are likely to define Bitcoin’s trajectory. As uncertainty lingers, traders are advised to monitor both technical signals and macro headlines for clues on BTC’s next move and long-term outlook.