Key points:
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Bitcoin sees a fresh round of selling at the Wall Street open, taking the price toward $108,000.
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Multiweek lows come thanks to whales offloading large tranches of BTC.
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US inflation data fails to offer any respite to bulls despite high odds of an interest-rate cut.
Bitcoin (BTC) hit new multiweek lows after Fridayโs Wall Street open as consensus favored a drop toward $100,000.
Bitcoin bulls pin hopes on RSI divergence
Data from Cointelegraph Markets Pro and TradingView confirmed daily losses of nearly 4% BTC/USD, which reached its lowest levels since July 8.ย
Whale selling pressure had been to blame earlier on the day, with distribution on the largest global exchange, Binance,ย compounding the downside.
CoinGlass Data put 24-hour crypto liquidations at nearly $540 million at the time of writing.
Market observers identified price in a key reversal zone.
โGood area to keep watching. Right on top of the previous range & consolidation area,โ popular trader Daan Crypto Trades noted in a post on X.
Fellow trader Crypto Caesar had similar levels on the radar, with Bitcoin failing to reclaim $112,000 as support.
$BTC – #Bitcoin failed to regain the 112K zone with full conviction.
Iโm watching these two zones. They want you to think this cycle is over. pic.twitter.com/6DmoixRGsK
โ Crypto Caesar (@CryptoCaesarTA) August 29, 2025
Earlier, Cointelegraph reported that $114,000 is essential for the bulls as a weekly close threshold.
With little optimism, only low-timeframe relative strength index (RSI) cues offered light at the end of the tunnel.
As noted by popular crypto commentator Javon Marks, the four-hour chart continued to preserve a bullish RSI divergence. This involves RSI making higher lows while price makes lower lows, and can form an early indication of an upside reversal.
โ$BTC (Bitcoin), still coming off of a confirmed Bullish Divergence can still have a huge reversal back up to $123,000 in the works,โ Marks argued.
โThis means that despite the current action, we could see a nearly +15% move back near the All Time Highsโฆโ
Fed watchers nervous again after PCE numbers
Both seasonality and macroeconomic factors continued to play a role in weakening price action.
Related: BTC bull run over at $111K? 5 things to know in Bitcoin this week
September is traditionally Bitcoinโs weakest month, with markets also wary of US inflation markers.ย
The Federal Reserveโs โpreferredโ inflation gauge, the Personal Consumption Expenditures (PCE) Index, hit expectations on the day while adding to an inflation rebound.
Despite this, data from CME Groupโs FedWatch Tool confirms, markets still saw the Fed cutting interest rates in September โย a key tailwind for crypto and risk assets.
Reacting, trading firm Mosaic Asset warned that the landscape could still change based on data into the Sept. 17 decision.
โOutlook for rate cuts could be in jeopardy if next weekโs payrolls are stronger than expected,โ it told X followers.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
