After a 10% pullback, Bitcoin may retest $108,000 if support breaks. Watch ETF flows, exchange inflows, and leverage.
Bitcoin fell over 10% from recent highs and now trades around $110,000, making a short term retest of $108,000 plausible if immediate support fails.
We could see a correction to $108,000 after the pullback, citing broken weekly support and fragile intraday ranges.
Traders expect higher volatility as they monitor Fed cues and ETF flows.
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Bitcoin Price Action And Technical Triggers
Price action has turned cautious after a sharp retracement from Bitcoins recent peak around $124,500. Last week BTC bounced around intraday support close to $112,700 while resistance formed around $114,800.
A clear break below that opened a path to $110,000 which may continue to break lower. Weekly and horizontal support failed across 1 hour, 2 hour and 4 hour charts, and a head and shoulders pattern with a neckline near $112,000 was broken.
Short term momentum reads bearish, yet oversold daily RSI and Stochastic suggest a temporary bounce to about $119,000 as short positions cover. Traders watching the neckline treat a close below $112,000 as confirmation to reduce exposure and tighten stops.
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On chain Flows and Liquidity
On chain flows and market liquidity sharpen the risk profile. CryptoQuant and Glassnode show more than 20,000 BTC moved to exchanges at a loss by short term holders over recent days, signaling realized losses that can pressure prices if buyers fail to absorb sales.
Spot volume spiked and liquidations reached about $300 million during the pullback, magnifying volatility and increasing the odds of stop hunts.
If ETF net flows slow or reverse and futures leverage stays high, the liquidity gap between $112,000 and $108,000 could attract rebalancing sales.
Traders should track exchange inflows, STH SOPR and ETF daily flows closely.
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Scenarios And Tactical Checklist
Two clear scenarios unfold. Break and hold below $112,700 targets $108,000, so place stops above local resistance and monitor exchange inflows.
If Bitcoin reclaims $115,000 to $118,000 with steady ETF inflows, the market can resume an uptrend toward $119,000 to $124,000.
Watch futures open interest and funding rates for clues.
READ ALSO: Can You Create Wealth From Bitcoin?
Conclusion
A move to $108,000 now looks plausible but not inevitable. Watch $110,000 to $115,000, ETF flows, exchange inflows, and futures leverage to decide whether to buy dips or preserve capital.
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