Overview

• Bitcoin is consolidating roughly 8–9% below last week’s all‑time high, hovering in the $111,000–$116,000 range after hundreds of millions of dollars in 24‑hour liquidations, according to Coinglass.
• On‑chain data shows repeated whale deposits to Binance near the $118,000–$120,000 area, reinforcing short‑term selling pressure and raising the risk of a retest of support around $110,000.
• Spot Bitcoin ETFs logged sizable net outflows in recent sessions, and CryptoQuant reports slowing net purchases, pointing to weaker demand and increased profit‑taking.
• Market sentiment has cooled from greed to neutral/fear, while derivatives readings turned contrarian as the Binance taker buy‑sell ratio hit a cycle low and open‑interest dynamics softened.
• Key levels in focus are support at roughly $111,000–$112,000 and resistance around $116,000–$120,000, with analysts split between a rebound toward $120,000+ and the risk of a deeper corrective leg.