Bitcoin sell pressure pushed prices down to the $112K zone after a surge in exchange inflows and a $190M long-liquidation wave wiped leveraged positions, signaling elevated short-term volatility while support near $112K–$113K remains crucial for near-term direction.
Immediate cause
Exchange inflows spiked in mid-September while outflows weakened, increasing supply on venues.
Nearly $190M in long liquidations amplified volatility within a single hour (source: CryptoQuant).
Bitcoin sell pressure tests $112K support after a $190M liquidation wave; read key levels, risk drivers, and next steps from Coinotag coverage.
Why is Bitcoin facing mounting sell pressure?
Bitcoin sell pressure intensified as exchange inflows surged mid-September while outflows fell, creating a temporary supply imbalance. This shift coincided with a rapid price drop that triggered large long liquidations, increasing volatility and placing critical support at $112K under pressure.
How did exchange flows change during the drop?
Exchange flow metrics show a spike in inflows around Sept 17–19, with inflows reaching multiday highs while outflows weakened after Sept 20. CryptoQuant data cited a reversal from earlier-month accumulation, when outflows outpaced inflows during the rally of Sept 7–15.
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Source: CryptoQuant
What triggered the $190M long-liquidation wave?
The move from roughly $115K to $112K provoked rapid deleveraging. Nearly $190 million of long positions were liquidated across exchanges within an hour, with major platforms recording multi-million-dollar hits (Binance reported approximately $16M liquidated). This concentrated wipeout increased intraday volatility.
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Market participants often react to sharp deleveraging with reduced risk appetite. A Coinotag market analyst commented: “Rapid liquidation events compress liquidity and make traditional support zones harder to defend in the short term.”
Near-term support is clustered at $112K, aligning with the 100-day EMA (around $111.9K). Immediate resistance sits at the 20-day EMA near $114.3K, followed by $116K where the recent breakdown originated. A decisive break below $112K could open a move toward $110K.
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