Bitcoin Price Analysis: BTC Dips Below $115,000 As Whale Begins Dumping Holdings Again
Bitcoin (BTC) lost momentum after reaching an intraday high of $116,802 during the ongoing session, with the price down 0.35% and trading around $114,800.
BTC’s rally stalled over the weekend as buying pressure waned, with the price dipping to $115,314. To make matters worse, a Bitcoin whale who sold $4 billion in Bitcoin two weeks ago has started offloading their holdings yet again.
Bitcoin ETFs Register Strong Inflows
Spot Bitcoin ETFs are witnessing renewed inflows as institutional interest and appetite return. The US-listed ETFs registered $642 million in inflows on Friday, the fifth straight day of gains. This pushed cumulative net inflows to nearly $57 billion, with total net assets at $153 billion. Fidelity’s FBTC led the inflows on Friday with over $315 million in net inflows, followed by BlackRock’s IBIT with $264 million. Trading volumes across Bitcoin ETFs topped $3.89 billion, indicating significant institutional interest.
The jump in inflows comes amid a quiet start to the month, indicating a shift in investor sentiment as macroeconomic conditions improve. Bitcoin ETFs have registered $2.34 billion in net inflows over the past five days.
US Could Create Strategic Bitcoin Reserve This Year: Alex Thorn
Galaxy Digital’s head of firmwide research, Alex Thorn, believes the US government will create the highly anticipated Bitcoin reserve by the end of the year. Thorn stated in a recent post on X,
“I still think there’s a strong chance the US government will announce this year that it has formed the strategic Bitcoin reserve (SBR) and is formally holding BTC as a strategic asset. Market seems to be completely underpricing the likelihood of such an announcement.”
President Trump signed an executive order to establish a strategic Bitcoin reserve in March. However, a formal plan is yet to be confirmed. Thorn believes recent developments suggest the plan to create a strategic reserve is in motion. US lawmakers recently introduced a bill directing the US Treasury to examine and produce a report on the feasibility and technical considerations of a strategic Bitcoin reserve. Trump’s crypto liaison has also confirmed the administration remains keen on the idea of a strategic reserve.
However, not everyone shares Thorn’s optimism. According to Dave Weisburger, former chairman of CoinRoute, a strategic Bitcoin reserve will only come to fruition in 2026.
“I have made the point many times that this administration is too smart to announce ANYTHING until AFTER they accumulate to their initial target... My only disagreement, Alex, is I think it happens in 2026, not this year.”
Bitcoin (BTC) Price Analysis
Bitcoin’s (BTC) rally stalled over the weekend after the flagship cryptocurrency reached an intraday high of $116,833 on Friday. It registered a marginal drop on Saturday before falling 0.56% on Sunday to settle at $115,314. The flagship cryptocurrency rallied to an intraday high of $116,802 during the ongoing session before losing momentum and dropping to its current level.
BTC stalled around $116,000 thanks to a jump in selling pressure after a Bitcoin whale began dumping his holdings on the market. The whale in question had sold $4 billion worth of BTC last month, swapping the cryptocurrency for ETH. The whale started selling again after the price crossed $116,000, putting the brakes on the rally. Crypto analytics platform Lookonchain confirmed the development on X, stating,
“After a two-week break, the Bitcoin OG who exchanged 35,991 BTC ($4.04B) for 886,371 ETH ($4.07B) is back to selling BTC. 2 wallets linked to this Bitcoin OG have deposited 1,176 BTC ($136.2M) to Hyperliquid in the past 2 hours and started dumping.”
Whale activity can often provide a glimpse of where “smart money” is headed. BTC is hovering above its weekly close as it heads into a key macro week for crypto and other risk assets. According to data from TradingView, BTC dropped towards $115,000 over the weekend, falling to a low of $115,177. The flagship cryptocurrency avoided volatility on Friday and over the weekend, with popular trader Skew stating on X,
“Pretty clear price is being walked down here yet again, going into a new week. Longs are being used as liquidity thus far ~ likely for fills. However, some pretty decent bid depth & liquidity just below $115K Time to pay attention.”
Market participants were also muted about BTC’s short-term prospects, with popular analyst Rekt Capital stating,
“The goal isn't for Bitcoin to break $117k in the short-term. The goal is for Bitcoin to reclaim $114k as support first. Because that's what would enable the premium-buying necessary to get a price above $117k later on.”
BTC faced volatility over the past weekend as it reached an intraday high of $113,390 on Friday (September 5). However, it failed to stay at this level and settled at $110,670, ultimately registering a marginal decline. Sellers retained control on Saturday as the price fell 0.41%. BTC recovered on Sunday, rising nearly 1% to end the weekend at $111,129. The price continued pushing higher on Monday, rising 0.85% to cross $112,000 and settle at $112,072. However, it lost momentum on Tuesday, dropping 0.47% to $111,547. Positive sentiment returned on Wednesday as BTC rallied, rising over 2% to cross $113,000 and settle at $113,983.
Source: TradingView
Buyers retained control on Thursday as BTC rose 1.37%, crossing $115,000 and settling at $115,540. The price continued pushing higher on Friday, rising 0.49% to cross $116,000 and settle at $116,106. Despite the positive sentiment, price action turned negative over the weekend as BTC registered a marginal decline on Saturday and fell 0.56% on Sunday, ending the day at $115,314. BTC reached an intraday high of $116,802 during the ongoing session. However, with selling pressure returning, it lost momentum and fell below $115,000.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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