Key Takeaways

Bitcoin slid under $112K with $600 million in losses and $475 million liquidations. Traders now watch $110K as key defense against deeper downside.

On the 24th of August, Bitcoin [BTC] broke below $112k. And it wasn’t just another dip. Instead, it triggered a clear risk-off rotation.

The move was quickly validated as nearly $600 million in Realized Losses hit the market the next day, marking the month’s biggest flush.

The fallout? A $475 million Long Liquidation sweep followed, the deepest washout of leveraged longs since the April tariff-driven FUD.

In short, one support break was all it took to set off a sharp flush, with $110k now the critical line on the chart.

Bitcoin’s fragile market structure exposed!

One look at Bitcoin’s chart shows why $112k carried weight. 

On the 2nd of August, BTC retested this support after topping out at $123k just twenty days earlier, and from there, it ripped 10.7% in two weeks to notch a fresh all-time high.

However, when the next retest failed to deliver a similar bounce, market structure flipped bearish. As confirmed by $600 million in Realized Losses, as HODLers with higher cost basis rushed to exit

The result? Bitcoin posted three straight sessions of lower lows

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Author: Ritika Gupta