Bitcoin is steadying after a volatile weekend that shook out leveraged traders and left the market questioning whether support at $110K can hold.
Following Sunday’s whale-driven flash crash, Bitcoin (BTC) price is once again consolidating near $111,000, and traders are debating whether a rebound toward the $116K–$120K zone is in play.
Summary
- Bitcoin is stabilizing near $111K after a whale-driven flash crash wiped out over $900M in leveraged longs, with $110K emerging as the key support zone.
- Upside case: A breakout above $113K–$115K could drive BTC toward $116K–$120K, supported by ETF inflows and reduced leverage.
- Downside risk: Failure to hold $110K exposes BTC to $108K and potentially $105K, keeping volatility and whale activity in focus.
Table of Contents
Current BTC price scenario
At the time of writing, Bitcoin trades near $111,013, with an intraday high of $112,346 and a low of $109,493. This range reflects both attempts at recovery and persistent selling pressure that followed last week’s dramatic move lower.
The sell-off was triggered by a massive 24,000 BTC transaction, worth more than $2.6 billion, that sparked more than $900 million in liquidations across leveraged long positions. While these wipeouts rattled sentiment, they also flushed out excessive leverage that had been building across exchanges.
For now, $110K remains the key line in the sand. A sustained hold above this level would signal resilience, while a failure could open the door to a deeper pullback. Resistance sits between $113K and $115K, with the next major upside barrier at $118K–$120K.
Bitcoin price prediction: Upside outlook
Bulls argue that Bitcoin’s recovery back above $111
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Author: Conor Maloney
