Overview

• Bitcoin is consolidating below $114,000 and under its 50- and 100-day moving averages after a sharp drop to the $111,000–$113,000 range.
• Roughly $1.6–$1.7 billion in long positions were liquidated over 24 hours, a derivatives-led flush that followed crowded leverage after the Fed’s cut.
• Technical levels in focus include resistance at $113,600–$114,000 and supports at $112,000, $111,750 and $110,500, with secondary levels near $108,800 and $107,500.
• Open interest remains elevated compared with historical norms, keeping the risk of further sharp moves in either direction.
• Institutional buyers disclosed fresh purchases—Strategy bought 850 BTC and Metaplanet acquired 5,419 BTC—while exchange reserves have edged lower, suggesting tighter spot supply over time.