Bitcoin slips, holds $111,500 as key support amid investor caution

Synopsis

Bitcoin is consolidating around $111,500, facing headwinds despite positive macro factors, while gold outperforms. Ethereum shows strength with ETF inflows, contrasting Bitcoin’s struggle to maintain momentum. Altcoins like Solana are gaining traction, indicating a shift in investor sentiment, while Bitcoin’s short-term outlook remains fragile but potentially poised for recovery if key levels hold.

Bitcoin fell 1.3% over the past week to trade near $111,648 on Friday, consolidating around the $111,500 level. Analysts say the crypto is struggling to hold momentum even as gold rallies to record highs, highlighting a widening performance gap between the two assets despite similar macro tailwinds.

“Bitcoin is consolidating near $111,500 after U.S. session selling erased early gains above $113,000. Gold’s climb to $3,450 per ounce has widened the performance gap. It is up 4% this month versus Bitcoin’s 5% drop despite both assets sharing the same macro tailwinds of lower rates and a softer dollar. This divergence underscores how investor conviction is still building ahead of expected Fed cuts in September,” said Vikram Subburaj, CEO, Giottus.com

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On-chain, nearly 90% of BTC supply sits in profit. This is a threshold that historically marks cycle inflections. Sustaining above $115,000 could trigger renewed inflows, while slipping below risks a deeper pullback. Options data also flags $116,000 as the ‘max pain’ level into expiry and this suggests that positioning is tilted toward eventual upside if supports hold,” Subburaj further adds.
Crypto TrackerTOP COINS (₹) Solana18,732 (1.5%)BNB76,245 (0.04%)Bitcoin9,754,630 (-1.55%)Ethereum391,303 (-2.33%)XRP254 (-3.26%)
At 10:05 AM IST, Bitcoin was trading at $111,648, down by 0.98% over the past 24 hours and down nearly 1.27% over the past week. Ethereum, on the other hand, was trading at $4,487, down by 1.51% in the past 24 hours but up by 4.58% over the last seven days.

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“BTC slipped from highs near $113,300 to below $112,000. An early push upward lost steam, with repeated rejections around $113,300 triggering a steady decline. The drop under $112,000 confirms sellers remain in control, with $111,500 as immediate support. A swift recovery above $112,500–$113,000 is needed to stabilize. BTC ETFs recorded $115M in inflows, marking the fourth consecutive day of inflows,” according to CoinSwitch Markets Desk.

ETH briefly spiked above $4,600 but failed to hold. The breakdown accelerated mid-session, with ETH dropping toward $4,440 before finding some relief. Since then, ETH has attempted small rebounds but remains capped below $4,500. Meanwhile, the U.S. Commodity Futures Trading Commission (CFTC), the regulator overseeing derivatives and commodity markets, announced that offshore crypto exchanges can now legally serve U.S. clients by registering under the Foreign Board of Trade (FBOT) framework,” it further added.

According to data, the crypto sector’s overall market capitalisation stood at around $3.87 trillion on Friday.

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Markets perspective

Edul Patel, CEO of Mudrex

Bitcoin is trading range-bound between $111,500 and $113,000 as capital migration continues into altcoins like Ethereum and Solana. Spot Ether ETFs attracted $1.83 billion in just five days, compared to $171 million for Bitcoin, showing a clear shift in investor sentiment. Meanwhile, Solana has confirmed a bullish breakout, gaining about 18% in the past week. Institutional interest as a treasury asset is contributing to this price action. With momentum intact, SOL could advance toward $234, with solid support established around $200.

Vikram Subburaj, CEO, Giottus.com

Altcoins remain uneven. Ethereum eased despite $1B in ETF inflows, pointing to profit-taking even as institutional demand rises. XRP, BNB, and Cardano posted mild losses, while Solana gained 5%. Meanwhile, PYTH surged 90% after U.S. GDP data went live on eight blockchains.

Overall, Bitcoin looks trapped in a holding pattern that is fragile in the short term, yet biased for recovery if technical and on-chain levels stay intact.
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