Exchanges Receive 21,400 Bitcoin at a Loss from Short-Term Holders

Bitcoin has fallen below the $115K support level, reaching approximately $112,700. This marks a shift from consolidation to bearish momentum, raising market concerns. Key observations include:

21,400 BTC sold by Short-Term Holders (STHs) at a loss over the past 24 hours.
This selling is common during retail capitulation, indicating panic-driven exits and potential accumulation for long-term investors.
Institutional demand appears strong as Bitcoin supply on Over-The-Counter (OTC) desks decreases.
The next critical levels are $115K to regain bullish structure and $110K as a potential downside target.

Market Dynamics

BTC currently trades at $113,737 after failing to break through the $122,077 resistance level. The price is below both the 50 and 100-period SMAs, which now serve as resistance barriers. Trading remains above the 200-period SMA at $110,308, a crucial support level for bulls.

Volume spikes indicate high selling pressure as STHs exit positions. Despite short-term bearish trends, institutional buying may counterbalance retail sell-offs. Future sessions will be pivotal in determining Bitcoin's direction—whether it can reclaim the $115K mark or face further declines towards $110K.