Bitcoin Panic as Price Drops Below $108,000 — Kraken Sees 41,512 BTC Outflow

Bitcoin markets showed increased stress on August 30, when on‑chain data analyst Murphy reported that the spot price dipped below the short‑term holders average of $108,000, shifting short‑term sentiment “from anxiety to panic.” The analyst also highlighted that weekend trading typically presents low liquidity conditions, which can amplify intraday volatility according to the observed on‑chain metrics.

Despite the pullback, accumulation by bullish participants continued, and exchange flows materially changed: Kraken’s exchange balance fell by 41,512 BTC between August 27 and 29. Prior chain analysis links Kraken‑associated addresses to several treasuries, institutional custodians and OTC platforms, underscoring the relevance of on‑chain flow data for institutional positioning and market structure assessments.