Key takeaways:
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Bitcoin dip consumers are again, however nonetheless being overpowered by sellers within the futures and spot markets.
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Closed markets on the Labor Day vacation and the specter of promoting by OG Bitcoin whales may ship BTC worth to $105,000 and beneath.
Bitcoin (BTC) trades amid rocky waters as the worth struggles to carry above $108,000, and for the time being, there aren’t any indicators of a restoration in sight. Merchants are exercising warning attributable to Wall Avenue being closed Monday for the Labor Day vacation and the overhang of a Bitcoin whale probably unloading one other billion-dollar tranche of BTC on the open market.
The Bitcoin OG whale bought one other 4,000 $BTC to purchase $ETH.
In lower than 2 weeks, this whale has bought over 32,000 BTC and acquired over 870K Ethereum value $3.8 billion.
He nonetheless holds 50K+ BTC, which can probably be bought for $ETH. pic.twitter.com/AC3iyhoM4a
— Ted (@TedPillows) August 31, 2025
Notable transfers and promoting from long-dormant whale-sized Bitcoin wallets and the conversion of the proceeds to Ether (ETH), declining inflows to the spot BTC ETFs, and end-of-week weak point within the DOW, S&P500, and Nasdaq are all weighing on investor sentiment. Including to the stress are US President Trump’s back-and-forth rhetoric on tariffs, and the markets’ response to the president’s makes an attempt to take management of the Federal Reserve board.
Some longer-out positives are market contributors’ expectations that the Fed will begin reducing rates of interest in late September or October, however these hopes haven’t been sufficient to enhance short-term investor sentiment.
From a technical perspective, Bitcoin’s intraday worth motion continues to be primarily pushed by exercise within the perpetuals futures market, the place the cumulative quantity delta reveals promoting from the ten,000 to 10 million Binance cohort far outpacing shopping for within the spot and futures market at Binance and Coinbase.
Whereas promoting in futures continues to suppress Bitcoin worth breakouts, and information reveals quick positions thickening up at every failed help resistance flip try, spot consumers within the retail-size cohort (100 to 10K) are shopping for every new low.
Associated: Will Bitcoin worth drop in September?
As proven within the chart beneath, the bid and ask ratio (set to 10% spot orderbook depth) reveals consumers taking a chunk as worth dropped into the $112,000 to $111,000 zone on Aug. 19 to Aug. 22 and once more as BTC descended to $107,200 on Friday by Sunday. It’s value noting that previous to Aug. 19, the metric had not flagged an occasion of the order ebook having extra bids than promote orders since June 22, when BTC worth fell beneath $98,000.
Bitcoin’s 30-day liquidation heatmap reveals draw back liquidity persevering with to be absorbed, with probably the most outstanding cluster at $104,000.
On a shorter timeframe, the BTC/USDT 1-hour chart at TRDR.io reveals bids exhibiting up at $105,000, $102,600 and $100,000. Setting the order ebook to 10% depth, bids within the $99,000 to $92,000 zone are additionally current.
Whereas consumers are proving eager to purchase dips to new lows, orderbook liquidity mixed with BTC worth weak point favors draw back and sellers proceed to overpower dip consumers. Wall Avenue (and the spot BTC ETFs) might be closed on Monday, and the damaging overhang of OG whales promoting within the open market is more likely to proceed weighing on worth within the quick time period.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
