Bitcoin May Rebound Toward $120,000 if $112,000 Support Holds Amid Whale Sales, ETF Outflows, $264M Liquidations

• Bitcoin defends $112,000 support; a close above it favors a move to $120,000.

• Whale sale of 24,000 BTC and ETF outflows of $1.17B increased short-term selling pressure.

• Derivatives liquidations of $264.04M (24h) and $45.26B daily volume signal heightened volatility.

Bitcoin $112,000 support crucial for rebound to $120,000 — watch whale sales, $1.17B ETF outflows and $264M liquidations. Read full market analysis now.

What is the near-term outlook for Bitcoin $112,000 support?

Bitcoin $112,000 support is the immediate demand zone traders monitor; holding this level increases the probability of a rebound toward $120,000 in the short term. If BTC fails to defend $112,000, sellers could press price into the $111,000–$110,500 range, amplifying volatility.

How did whale sales and ETF outflows impact Bitcoin’s price action?

Large transfers and ETF redemptions raised selling pressure and triggered rapid price moves. A reported whale transfer of 24,000 BTC coincided with a near-term $4,000 drop. Spot Bitcoin ETFs recorded net outflows of $1.17B between August 18–22, adding institutional outflow risk. These flows, combined with $264.04M liquidated in derivatives over 24 hours, increased market sweep and volatility.

How are price levels and market trends shaping BTC’s near-term path?

On the four‑hour chart, repeated rejection near $123,000 and resistance at $117,600 suggest supply remains strong above current levels. The $112,000 area has acted as a vital demand zone, with buyers stepping in multiple times this month, according to market observers referencing on‑chain and price action data.

If Bitcoin holds above $112,000, the path toward retesting $120,000 opens, while a break could target $111,000–$110,500. Bitcoin traded at approximately $111,735 at the time of reporting, with 24‑hour volume at $45.26 billion and a weekly decline near -1.6%.

The broader crypto market cap fell to $3.88 trillion, a $130 billion drop in 24 hours. Ethereum traded around $4,659, showing a weekly decline of -2.89% as market breadth weakened alongside Bitcoin.

Why did derivatives liquidations and volume spike?

Derivatives liquidations totaled $264.04M in 24 hours, primarily from long positions squeezed during sharp downside moves. Rising open interest and elevated volume reflect aggressive positioning and quick reaction to large transfers and ETF flow data, increasing the probability of volatile intraday swings.

Whale transactions and ETF outflows — what are the key details?

On‑chain observers noted a wallet transferred 24,000 BTC (~$2.7B), which coincided with a sharp selloff. That same address reportedly still holds approximately 152,874 BTC (~$17B). ETF data from market flow trackers showed $1.17B in spot Bitcoin ETF net outflows between August 18–22, with notable redemptions concentrated in major funds. Coinglass reported $264.04M in liquidations across derivatives markets during the same 24‑hour window.

How should traders monitor risk around $112,000?

Traders should watch price action at the $112,000 demand zone and monitor volume and open interest for continuation signs. Use graduated position sizing, set clear stop levels around $110,500–$111,000, and track ETF flows and large on‑chain transfers reported by market data providers for sudden liquidity events.

Frequently Asked Questions

Can Bitcoin rebound to $120,000 if $112,000 holds?

If Bitcoin holds $112,000, historical bounces and recent buyer interest make a test of $120,000 more likely; however, confirmation requires sustained volume and a break above $117,600 resistance.

What role did large whale transfers play in the recent drop?

Large whale transfers can add immediate selling pressure and trigger liquidations when they coincide with thin order books. The reported transfer of 24,000 BTC coincided with a quick $4,000 move and increased short-term volatility.

Key Takeaways

• Support focus: $112,000 is the critical short-term demand zone for Bitcoin.
• Market pressure: Whale sales, $1.17B ETF outflows and $264M liquidations raised near-term downside risk.
• Trading action: Monitor volume, open interest and on‑chain large transfers; use disciplined risk management.

Conclusion

Bitcoin’s ability to defend $112,000 support will shape the next directional move, with a successful defense opening the path to $120,000 and a breakdown risking $111,000–$110,500. Traders should watch whale activity, ETF flows and derivatives liquidations closely and adjust positions accordingly. COINOTAG will continue to monitor on‑chain and market flow data and provide updates.