Key Points:
Bitcoin has hit a price of $108,000 after seeing a new round of sales at the Wall Street Open.
The multi-week lows are thanks to whales turning off the massive BTC tranche.
US inflation data is unable to provide the Bulls with rest despite the high potential for interest rate cuts.
Bitcoin (BTC) hit a new weekly low after Wall Street opening on Friday.
Bitcoin Bulls Pin Want to Spread RSI
Data from Cointelegraph Markets Pro and TradingView confirmed a one-day loss of nearly 4% BTC/USD, reaching its lowest level since July 8th.
Whale sales pressures were held accountable earlier in the day, and the distribution of vinance, the biggest global exchange, had exacerbated the downside.
Coinglass Data has brought the 24-hour crypto liquidation to nearly $540 million at the time of writing.
Market observers identified prices in major inversion zones.
“A good area to keep watching. It’s above the previous range and integration area,” popular trader Daan Crypto Trades pointed out in an X post.
fellow trader Crypto Caesar had a similar level on radar, with Bitcoin unable to recover $112,000 in support.
$btc- #bitcoin failed to regain the 112k zone with a full conviction.
I’m looking at these two zones. They want you to think this cycle is over. pic.twitter.com/6dmoixrgsk
– Crypto Caesar (@cryptocaesarta) August 29, 2025
Previously, the Cointelegraph reported that $114,000 is essential for the Bulls as a weekly close threshold.
Not optimistic, the light provided light at the end of the tunnel.
As popular crypto commentator Javon Marks pointed out, the four-hour chart continued to maintain bullish RSI differences. This includes making lower prices lows while the RSI produces higher lows, forming early signs of upward inversion.
“$btc (Bitcoin). There’s still a big reversal of $123,000 when it comes out of the still confirmed bullish divergence,” Marks claimed.
“This means that despite current action, almost +15% can return to near all-time highs…”
Watcher tense again after PCE number
Both seasonality and macroeconomic factors continued to play a role in undermining price behavior.
Related: Will the BTC Bull run at $111K? 5 things you need to know about Bitcoin this week
September has traditionally been Bitcoin’s weakest month, and the market is also wary of US inflation markers.
The Federal Reserve’s “priority” inflation gauge, the Personal Consumption Expense (PCE) index, reached day’s expectations while increasing inflation rebounds.
Nevertheless, data from CME Group’s FedWatch tool has been confirmed, but the market still saw the Fed’s cut rates in September. This is a key tailwind for crypto and risky assets.
Mosaic assets of the reactive trading company warned that the September 17 decision could change the landscape based on the data.
“If next week’s salary is stronger than expected, the prospect of rate reductions could be at risk,” he told X-follower.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
