Bitcoin Price at a Make-Or-Break Junction, Whale Influence Drops

Following a volatile past week, Bitcoin BTC $110 965 24h volatility: 0.4% Market cap: $2.21 T Vol. 24h: $36.31 B price is now finding support at $110,000, and faces a make-or-break situation ahead.

For the past few weeks, BTC has been trading between $104K and $116K. Recently, Bitcoin OG whales have offloaded some holdings, showing a shift in sentiment toward Ethereum ETH $4 425 24h volatility: 1.5% Market cap: $533.74 B Vol. 24h: $31.97 B .

Bitcoin Price Faces Tough September

Historically, September has been a month of selling pressure for Bitcoin and altcoins, as investors prepare for a similar pullback this time. Crypto analyst Benjamin Cowen noted that historically, Bitcoin tends to hit a low in September during post-halving years.

Following this dip, BTC often rebounds into the market cycle peak, which usually occurs in the fourth quarter.

However, one major catalyst ahead is a possible 25 bps Fed rate cut coming at the FOMC meeting on September 17. This could lead to a major liquidity infusion in the market, driving BTC and the broader crypto market higher.

Blockchain analytics firm Glassnode reported that Bitcoin is currently consolidating within the $104,000-$116,000 range following significant absorption by investors.

A sustained move above $116,000 could reignite the uptrend, while a breakdown may push the price toward the $93,000-$95,000 support zone.

Chart showing Bitcoin short-term holders’ supply in profit. | Source: Glassnode

Bitcoin ETFs, Futures Data, and Whale Activity Show Cooling Demand

Flow into spot Bitcoin ETFs has turned negative in recent weeks, showing that the institutional demand for the same has been waning.

On the other hand, the BTC futures show subdued demand from futures traders.

Investors and traders appear to be waiting on the sidelines for now. Meanwhile, Satoshi-era Bitcoin whales have been selling some of their holdings and using the proceeds to accumulate more Ethereum ETH $4 425 24h volatility: 1.5% Market cap: $533.74 B Vol. 24h: $31.97 B .

Crypto analytics firm CryptoQuant highlighted that recent Bitcoin price movements have been influenced more by regional liquidity than by ETF flows.

On-chain and exchange data indicate a recurring pattern, wherein the Asian markets often trigger the initial price moves, while U.S. markets determine whether the trend sustains.

Bitcoin Hyper (HYPER) Presale Surpasses $13.7M

Amid the ups and downs of Bitcoin, Bitcoin Hyper (HYPER) is making waves during its presale! The project has already raised over $13.7 million and is tackling Bitcoin’s biggest challenges: slow transactions, high fees, and no native smart contracts.

HYPER’s Layer 2 network uses an optimized virtual machine to process transactions faster, cheaper, and more efficiently, all while staying anchored to Bitcoin’s secure base layer.

Bitcoin Hyper (HYPER) Token Snapshot

• Ticker: HYPER
• Presale Price: $0.012855
• Funds Raised: $13.79 million

Staking HYPER tokens offers up to 79% APY, allowing you to earn rewards while supporting the network.

With a current presale price of $0.012855, early investors can get in at a discount and be part of what’s shaping up to be one of Bitcoin’s most exciting innovations.

With limited time remaining before the next price adjustment, the HYPER presale is generating strong interest. Feel free to check out our detailed guide on how to buy Bitcoin Hyper.

The post Bitcoin Price at a Make-Or-Break Junction, Whale Influence Drops appeared first on Coinspeaker.