Bitcoin Holders Dump $3.3B as BTC Price Tests Key Support

TLDR:

• Over 30,000 BTC worth $3.3B hit exchanges at a loss as short-term holders capitulated.
• Bitcoin price sits near the short-term holder realized price, historically a key support level.
• Whale wallets booked $210M in realized losses, signaling stress even among large holders.
• Price dropped to $111,480 before recovering above $112K, with resistance liquidity near $118K.
  

Bitcoin’s price is locked at a make-or-break level. Selling pressure has surged, and short-term holders are cashing out at losses. Market watchers are now looking at whether support holds or gives way to deeper selling.

The last 24 hours have seen over $3.3B in distressed selling hit exchanges. Large holders are de-risking too, adding more weight to the bearish pressure.

Short-Term Holders Realize Heavy Losses

According to CryptoQuant, over 30,000 BTC moved to exchanges at a loss this week. That equals more than $3.39B at the current market price of $113K per BTC. Analysts said this behavior fits the classic profile of short-term capitulation, when recent buyers exit below cost.

Short-Term Holder SOPR dropped sharply below 1, a metric that confirms losses are being locked in on-chain. 

The selling coincides with Bitcoin sitting exactly on the short-term holder realized price, the average cost basis of these wallets. Historically, this price has acted as support during selloffs.

Even larger wallets are not immune to the pressure. New whale addresses realized losses worth $184.6M, with older whales adding another $26.3M in realized losses. CryptoQuant noted that this shows derisking is not limited to retail, making the support test more important.

Market participants are now watching whether this level holds, as a break could accelerate capitulation. If buyers defend it, a short-term bounce could follow.

Bitcoin Price Faces Key Liquidity Zones

TradingDifferent reported that BTC dropped to $111,480 before bouncing back to trade near $112,560. This flush cleared leveraged long positions built in that zone. Analysts observed that upside liquidity begins around $118K and could act as resistance on a recovery attempt.

On the downside, liquidity sits around $110,500, a level that could attract price action if selling pressure increases. The heatmap data shows price is chasing liquidity where the most positions can be liquidated.

CoinGecko data shows Bitcoin trading at $112,903, with $48.8B in 24-hour volume. The coin is down 2.2% in the past week. If bulls defend the current level, it could mark a local bottom. If not, traders expect a sharper drop.

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