Bitcoin Whales Push BTC Below $109,500 as Market Wobbles Ahead of US PCE
Bitcoin fell again on Friday, slipping nearly 3% as large transactions from so-called whale accounts pressured price action. Data showed BTC/USD dropping roughly $3,000 in a matter of hours, reaching local lows around $109,436 on Bitstamp and pushing short-liquidations to roughly $350 million over 24 hours.
Traders pointed to concentrated inflows and outsized orders as the likely cause. Market participants described the activity as a repetition of a familiar pattern from earlier in August, where consolidation and sudden sell flows from large holders triggered capitulation phases followed by breakouts and rallies. Some analysts specifically flagged heavy flows involving liquidity provider Wintermute as part of the moves.
Several commentators characterized the behavior as deliberate liquidity shifting designed to influence price and trap other traders. One trader described the pattern as the “whale playbook,” while others warned the market may remain in a capitulation phase for some time, which could offer buying opportunities for longer-term entrants.
Beyond on-chain and order-book dynamics, macroeconomic risks also weighed on the market. Investors were focused on the upcoming U.S. Personal Consumption Expenditures (PCE) inflation release— the Federal Reserve’s preferred inflation gauge—scheduled for 8:30 a.m. Eastern. Observers noted that the PCE print could either deepen selling pressure or spark a relief rally depending on the result, since inflation data will influence expectations around possible Fed policy moves.
As always, this article does not constitute investment advice. Cryptocurrency markets are volatile and trading involves risk; readers should carry out their own research before making financial decisions.
