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Bitcoin pushed $ 112k with $ 600 million in losses and $ 475 million liquidations. Traders are now looking $ 110k as an important defense against deeper disadvantage.
On August 24, Bitcoin [BTC] Braked under $ 112k. And it wasn’t just another dip. Instead, it caused a clear rotation of risks.
The move was validated quickly because almost $ 600 million in realized losses came on the market the next day, which marked the largest flush of the month.
The Fall -Out? A $ 475 million long liquidation -Sweep followed, the deep Wasout from Leveraged Longs since the tariff -controlled FUD in April.
IN Short, one support break was everything needed to turn off a sharp flush, with $ 110k now the critical line on the graph.
Bitcoin’s fragile market structure exposed!
One glance at Bitcoin’s graph shows why $ 112k wore weight.
On August 2, BTC tested this support again after the Caution of $ 123k only twenty days earlier, and from there it tore 10.7% in two weeks to record a fresh all-time high.
However, when the next retest did not deliver a similar bouncing, the Beerarish market structure turned. As confirmed by $ 600 million in Realized losses, as hodlers with higher costs that hurried outside

Source: TradingView (BTC/USDT)
The result? Bitcoin placed three straight sessions of lower lows.
The first wick tapped $ 110,305, the second $ 110,185, and the third extended to $ 108,761. Of course this left support under tension in the short term, with bears in liquidity bags just below $ 110k.
Simply put, BTC clings to $ 110k as the last defense in the short term. If this level makes way, the path will be opened for a deeper drawing in the $ 107k $ 105k zone where heavier bids are likely to arise.
BTC risks $ 100k slide without a macro boost
The Crypto -Volatility Index (CVI) read 47.69, at the time of the press, which shows moderate Chop in the market
Even after the break, Panic was not kicked in the neighborhood. The Fear & Greed Index loved 47, four points from yesterday.
Spot ETFs also turned positively and signal a steady bid-support that returned. In the meantime, open interest (OI) remained muted, which means that leverage is not yet in it.
Moreover, this BTC kept structurally bearish – although every pick -up could quickly turn the bias.
Flows are in favor of ETH, not BTC

Source: X (Willy Woo)
However, one important headwind for Bitcoin remains the ETH/BTC ratio.
Flows in Ethereum [ETH]Running around $ 0.9 billion a day (silver), are now overtaken until the influx of BTC (Orange).
In addition, while BTC ETFs have become positive, ETFs have achieved more than $ 1 billion in the last four transactions, which makes the capital aggressively run in ETH.
That said, unless a macro catalyst lands like a fed pivot, whales will probably let risk-off flows run in Ethereum, which exposed Bitcoin to a deeper slide to $ 100k.
