What to Know
- Bitcoin whales sold over $12 billion worth of BTC in the last month.
- This selloff comes as BTC price is consolidating and struggling to hold above the $110,000 level.
- The technical indicators suggest uncertainty for BTC.
In August, Bitcoin whales dumped their greatest volume in over two years, sparking fresh debate on whether the flagship crypto has reached the late phases of the current cycle. According to CryptoQuant, whale wallets discharged about 115,000 BTC, estimated at $12.7 billion, all at once.
BTC’s Cycle Performance Amid Bitcoin Whale Selloff Saga
Analysts call this event the most aggressive dumping since the middle of 2022. The liquidation is timed as the Bitcoin price is grappling to hold on above the $110,000 support level. The key question now to ponder upon by market watchers is whether this has been the first act in a long-term downtrend or rather a shakeout before the digital asset tries to make another upward move.
Bitcoin has made an impressive recovery since the trough of the prior bear market, marking a 700% climb in price since the bottom to the peak and marking a fresh all-time peak of $124,474 in August 2025. This has been more staggered as opposed to the previous cycles, which were characterized with explosive vertical growth.
The period since August 2024 has been characterized by a number of up-down swings and corrections that have been structurally arranged in an upward highs and upward lows, instead of a parabolic curve.
According to chart analysts, the trend can be seen as an upward wedge, which is another trend in the cycle endings. Should the structure be correct, it would imply that Bitcoin is likely to approach exhaustion as opposed to being in extension.
Technical Warning Signs for BTC Price
Momentum indicators show major unrest in the market. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have bearish divergences in the weekly chart. The MACD also gave a bearish cross, which is traditionally a prelude to further retreats when accompanied by RSI debilitation. These congruent signals, which happened in the past market peaks, are a reaffirmation that Bitcoin might be approaching an inflection point.
The less decisive picture is painted in shorter-term price action. Bullishly, however, Bitcoin has recently left a downward parallel channel, and some traders take this as the elimination of the corrective force. Meanwhile, bears emphasize a shooting star formation on a candlestick of September 5 and the failure of Bitcoin to recover the horizontal support zone at $112,500.
The indicators are unclear: RSI and MACD are rising, but have not surpassed the bullish levels of their respective indicators 50 and 0. Consequently, the daily charts do not give any clear directional indication.
Elliott Wave Perspective & Market Implications
Wave analysis is of the idea that Bitcoin could not be out of the upward cycle at the moment. The asset is already in the fifth wave of its overall rally, and sub-wave five is yet to complete the move. The immediate structure, however, hints at a W-X-Y corrective phase ever since the August high.
The X-wave developed into a symmetrical triangle, and its completion indicates that the market is already in wave Y with projections of up to $102.000 in the proportion of downfall or even $96,300 before the correction trend ends. In case of such a decline, it would prove that the recent pullback is corrective as opposed to impulsive. Elliott Wave rule dictates that a triangle is not a fourth wave, i. e. its position corresponds to corrective wave B or X.
The result would be a configuration of Bitcoin returning to its bigger-scale bullish framework when corrective forces wane. So far, the question of whether Bitcoin will be able to protect the $110,000 level is in the limelight. The response can either bring the next recovery phase or a major reverse towards the back of six-figure support.
Also Read: FARTCOIN to Be the Next Big Meme Coin in 2025? Whales Show Support
