Bitcoin Slides to $108K as Whales Dump and Macro Jitters Weigh In 🐋📉

[kevin1]

Key Points:

Bitcoin slips to $108,489, hitting multiweek lows after Wall Street’s open.

Heavy whale selling on Binance sparks fresh downside.

Nearly $540M liquidated across crypto in 24 hours.

Bulls eye RSI divergence as a potential reversal signal.

Fed’s inflation gauge meets expectations, but September payrolls could shake up rate cut bets.

Whale Selling Drags BTC Lower

BTC/USD shed ~4% Friday, tumbling to its lowest since July 8.

Whale distribution on Binance piled pressure on the order books.

CoinGlass data: $540M liquidations in 24 hours.

Traders see BTC sitting in a key reversal zone.

“Right on top of the previous range & consolidation area.” — Daan Crypto Trades

Technical Outlook: RSI Divergence Hope

Despite the slump, some see light at the end of the tunnel:

Four-hour RSI shows bullish divergence (higher lows in RSI vs. lower price lows).

Analyst Javon Marks: BTC could bounce +15% → $123K if divergence plays out.

But for now, BTC must reclaim $112K short term, and $114K for a stronger weekly close.

Macro Pressure: Fed in Focus

September = historically BTC’s weakest month.

PCE Index (Fed’s favored inflation gauge) came in line, showing signs of rebound.

CME FedWatch: odds still favor a September rate cut.

️ Mosaic Asset warns: strong payrolls next week could jeopardize the cut.

🧩 The Takeaway

BTC is in a tug-of-war:

Negative drivers: whale sell-offs, weak seasonality, macro uncertainty.

Positive drivers: RSI divergence, rate cut expectations, possible reversal setup.

Question: Are we heading for a flush toward $100K before bouncing — or will RSI divergences prove to be the springboard for a new leg higher?

[Nahid10]

Really sharp breakdown! The RSI divergence on the 4H is exactly what I’m watching too. Every time we’ve seen this type of setup after heavy liquidations, BTC has managed at least a short-term relief rally. If the divergence plays out, $123K isn’t unrealistic at all — especially with rate cut expectations building. Holding $112K will be the make-or-break level in my view.

[jacson4]

Solid points. Personally, I think whales still have the upper hand here. The $540M in liquidations shows how fragile retail positions are right now. September being historically weak for BTC adds even more pressure. If payrolls print strong next week, I wouldn’t be surprised to see a flush toward $100K before any meaningful bounce. Patience is key.

[emranrx]

Great summary. What stands out to me is the macro setup — PCE was neutral, but the jobs report could flip everything. If payrolls come in hot, the Fed may hesitate on cuts, and that could weigh on BTC further. But if cuts stay on the table, the macro + divergence combo could fuel a powerful rebound. Definitely feels like a pivotal week ahead.

[Maxwell]

Whale selling is brutal, but that 4H RSI divergence could spark a neat bounce if bulls step in around $108K–$110K.

[Nahiar806]

Macro events will be key — strong payrolls might kill the rate cut hopes and drag BTC lower, otherwise divergence could trigger a rebound

[rafihasan]

$540M liquidated in 24h is wild — short-term pain, but could be the setup for a squeeze back toward $114K.

[kelson10]

Excellent analysis as always! I think both scenarios are valid: whales are clearly leaning on sell pressure, but divergences like this can’t be ignored. For me, the key is whether BTC can reclaim $114K on a weekly close. If yes, the bull case is alive. If not, we should prepare for deeper downside. Either way, volatility is guaranteed in September.