Overview

• Bitcoin trades around $112,000–$113,000 after slipping below the 50- and 100-day moving averages for the first time since April, with $114,000–$115,000 capping rebounds.
• Roughly $1.6–$1.7 billion in leveraged long positions were liquidated in the week’s largest cascade of the year, following crowded leverage after the Fed’s move.
• Glassnode cohort data shows distribution across all wallet sizes, with the largest whales selling aggressively and the share of coins unmoved for at least a year dropping from 70% to 60%.
• Hyblock heatmaps highlight a deep liquidity cluster near $107,000 that could act as a magnet, with smaller growing pools around $109,000 and $111,000.
• Institutional signals are mixed as spot ETF flows wobble even while corporates like MicroStrategy and Metaplanet disclosed fresh BTC buys, and on-chain and futures data show dip buying without strong spot follow-through.