TALLIUM; DOCTOR
- BTC has fallen 3% over the past 24 hours and is trading at around $111,200 per coin.
- The negative movement comes amid an ongoing US–China trade dispute and ahead of a speech by Powell later today.
BTC falls to $111,000
Bitcoin, the largest cryptocurrency by market capitalization, has declined about 3% in the past 24 hours and is currently trading near $111,200 per coin. The drop coincides with rising tensions in the US–China trade conflict, and traders expect market volatility to increase.
In addition, spot Bitcoin exchange-traded funds (ETFs) recorded outflows of more than $320 million on Monday, signaling that investors are taking a cautious stance toward the market.
Federal Reserve Chair Jerome Powell is scheduled to speak later today, and market participants are closely watching the event for cues that could trigger renewed volatility in risk assets such as Bitcoin.
Investors are also seeking fresh signals about the likelihood of an interest-rate cut later this month. However, with a partial US government shutdown limiting the release of new economic data, Powell may offer only limited guidance about the upcoming FOMC meeting.
On-chain data shows that a wallet known as BitcoinOG, which shorted BTC just before last Friday’s sell-off, increased its open short position earlier today. That move pushed the wallet’s total short exposure above 4,394 BTC.
Two other whales with significant profits on Hyperliquid have also opened large short positions, anticipating another price drop in the near term.
BTC remains bearish as traders take a cautious approach
The 4‑hour BTC/USD chart is showing a downtrend and weak momentum, as Bitcoin underperformed over the past day. BTC recovered slightly on Monday, testing the $115,000 level following last Friday’s sharp decline.
However, it failed to sustain that pace and is now trading around $111,200 per coin. The 4‑hour Relative Strength Index (RSI) sits at 42, below the neutral 50 level, indicating weakening momentum. Meanwhile, the moving average convergence divergence (MACD) printed a bearish crossover on Friday and remains below its signal line, pointing to continued selling pressure.
If the correction continues, Bitcoin could slide toward the next significant support near $107,245. Conversely, if bulls regain control, they may push the price back toward the $115,000 resistance level.