Overview

• Bitcoin briefly fell under $110,000 before stabilizing near the $110,000–$112,000 range, extending an 11%–12% retreat from its mid-August all-time high.
• Glassnode’s cost-basis analysis highlights immediate resistance around $113,700 and critical support near $107,000 inside a dense $93,000–$110,000 supply cluster.
• On-chain and exchange signals show renewed whale selling and mixed derivatives posture, with over $250 million liquidated in 24 hours and top Binance traders trimming long exposure.
• Polymarket bettors assign roughly a 62% chance that Bitcoin ends 2025 below $100,000, reflecting growing caution after the latest pullback.
• Flows are rotating toward Ethereum as BTC struggles to clear resistance, and some technical analysts only foresee a short relief bounce toward $118,000–$122,000 before any deeper move is resolved.