Bitcoin Drops to $110,820 as Market Faces Pullback Risks

Bitcoin (BTC) has dropped to a weekly low of $110,820 on Binance after failing to reach a new all-time high. The cryptocurrency is currently in a pullback phase, with $105,000 identified as a critical support level.

Key Points

Bitcoin whales are selling, indicating stronger sell-offs that may affect price stability.
Smaller wallets (0–0.1 BTC) have shifted back to accumulation mode despite market decline.
Wallets holding 0.1–1 BTC began accumulating even at ATH levels, suggesting retail confidence in Bitcoin’s long-term prospects.
Mid-sized holders (1–10 BTC) halted selling around $107,000, viewing current prices as attractive.
Larger wallets (10–100 BTC) stopped accumulating at $118,000 and are now distributing.
Wallets with 100–1,000 BTC show a balance between buying and selling, reflecting indecision near the $105,000 threshold.
Wallets holding more than 10,000 BTC continue to sell, although the pace has slowed.
The CryptoQuant Bull Score Index is neutral; Bitcoin needs to trade above $112,000 to avoid significant corrections.
Current Bitcoin price is $111,349, down 2.7% over the last 24 hours.

A decisive break below $105,000 could undermine market confidence significantly.