The post BTC Troubles Just Getting Started After 3% Daily Decline? appeared on BitcoinEthereumNews.com.

Bitcoin is showing clear signs of weakness, with increasing selling pressure driving the price lower. The asset has now approached a decisive multi-month support zone, with a confirmed breakdown triggering a sharp decline toward the $111K threshold. Technical Analysis By ShayanMarkets The Daily Chart After an extended period of sideways movement within the $116K to $123K range, Bitcoin has now turned downward, breaching the lower threshold. This drop signals a rise in distribution and selling interest, with the asset now testing a major support near $114K, coinciding with the lower boundary of its long-standing price channel. This region marks a critical battleground between buyers and sellers. A break below this level would likely trigger a new wave of sell orders, setting the stage for a deeper correction toward the $111K zone. The reaction at this pivotal level is expected to play a key role in shaping Bitcoin’s mid-term trajectory. The 4-Hour Chart Zooming in, the price was recently rejected from the upper boundary of a rising flag near $118K, signaling strong selling pressure. The recent drop has taken Bitcoin back toward the lower end of the flag structure, around $114K, which also aligns with the 0.5 Fibonacci retracement level. This confluence creates a strong area of support. A confirmed break below this level could lead to a long-squeeze scenario, pushing the price even lower. However, if demand picks up and buyers regain control, a bounce toward the $118K zone remains possible in the short term. On-chain Analysis By ShayanMarkets The Binance BTC/USDT liquidation heatmap highlights a tense standoff within the current market structure, with Bitcoin’s price caught between two significant liquidity pockets, one concentrated above the $120K level and another below $114K. These zones mark areas of high leveraged exposure, making them key magnets for institutional players and liquidity-driven moves.…

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Filed under: News - @ August 1, 2025 7:28 pm