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🚨 #Bitcoin faces “palpable” sell pressure as price drops near $113.5K, hitting a 2-week low. Over $100M in long positions were liquidated within just 1 hour.
📉 Key support zones are in focus: $107K–$110K, with the 100-day SMA at $110.9K as a critical barrier. The 50-day SMA at $115.8K must be reclaimed to reverse momentum.
🛡️ Notably, a $25M bid stack sits around $105K as “plunge protection,” though it may be pulled if downside continues.
💸 ETFs, once the main driver, are now showing weakness: Aug. 19 saw $121M in outflows, with BlackRock’s IBIT recording its first withdrawal since Aug. 5.
#BTC enters a true stress test phase.
#BTC