Bitcoin Plunge to $115K Sparks Profit-Taking Frenzy Amid Macroeconomic Jitters
Bitcoin bulls hit pause as the king coin tumbles to $115K—traders cash in gains while weak economic data rattles markets.
Profit-taking wave crashes in
As macroeconomic indicators flash warning signs, BTC holders rush to lock in profits at 2025's still-respectable price levels. The move follows a predictable script: weak jobs numbers, shaky retail sales—and suddenly everyone remembers crypto's 'uncorrelated asset' narrative only works on PowerPoint slides.
Macro tremors shake crypto foundations
The dip comes as traditional markets reel from disappointing GDP revisions and hawkish Fed whispers. Bitcoin's 5% slide mirrors the S&P's worst week since June—proving once again that when Wall Street catches a cold, crypto still sneezes first.
Silver lining for accumulation?
Veteran traders see the pullback as healthy consolidation after Bitcoin's 180% year-to-date rally. 'This is the discount window institutions pretend they don't shop at,' quipped one OTC desk manager—between sips of a $22 almond-milk latte.
Bitcoin exchange flows point to profit-taking
According to an Aug. 16 analysis by BorisVets, Binance netflows flipped positive last week as bitcoin (BTC) inflows surged, while outflows slowed. This marked the start of a distribution phase, where whales prepared to sell into new demand.
Ahead of Bitcoin’s all-time high attempt, inflows surged and Binance’s exchange reserves climbed, confirming that supply was moving onto the platform. Sellers moved swiftly to exploit overextended longs after the rally stalled below the peak. The perpetual–spot price gap widened, pointing to excessive leverage and creating ideal conditions for a sharp pullback.
At the same time, stablecoin netflows into Binance increased, showing buyers were still eager to enter the market. This created an imbalance in which fresh buyers stepped in while whales offloaded positions. Given Binance’s outsized trading volume, such shifts strongly influence global sentiment, amplifying volatility across the board.
Bitcoin technical analysis
From a technical perspective, Bitcoin has fallen below the Bollinger Band’s midpoint, with $114,600 serving as crucial support. The relative strength index has cooled to near-oversold territory, suggesting that the momentum on the downside may soon slow.
Since the overall trend has weakened, a sustained break below $114,000 might indicate more downside toward $112,000. A recovery above $117,500 WOULD be a good sign for the bulls that the pullback is ending and might result in another attempt at $120,000.
