Despite general prudence in international markets, flagship cryptocurrency Bitcoin (BTC) held steady on Friday, September 5, staying over the $111,000 mark. The digital asset fluctuated between $109,347 and $111,723 in the last 24 hours, reflecting uncertainty among traders after an early-week recovery. At last check, Bitcoin was trading at $111,572, up 0.65 per cent, with a 24-hour trading volume of $63.63 billion. It continued to hold its position as the most valuable cryptocurrency in the world with a market capitalization of $2.22 trillion.
In the last 24 hours, approximately $300 million in crypto positions faced liquidation, with Ethereum leading at $97 million and Bitcoin following at $54 million. Spot Bitcoin ETF flows shifted to negative following two days of inflows. Technical indicators suggest that Bitcoin could face resistance around $112,500. According to Walke ,“BTC has rebounded from the $109,300 level but may encounter resistance near $112,500.” Walke says “While the setup suggests a potential recovery, resistance from the MACD and moving averages warrants caution.” Bitcoin’s recent price movements have diverged from wider global patterns. “BTC is holding firm above $111,000, trading between $109,378 and $111,664. “Record-high network hash rates are supporting the bullish narrative, but investors are closely watching US economic data and upcoming derivatives expiries for direction,” said Thakral.
He cautioned that a possible decline toward the $93,000–$95,000 range could occur before upward momentum resumes later in the year. While Bitcoin held steady, Ethereum continued to show signs of weakness. As of the most recent review, the price of ETH was $4,339, representing a 0.87 percent decrease, with a 24-hour trading volume of $34.06 billion. Ethereum’s market capitalisation stood at 523.46 billion, securing its place as the second-largest cryptocurrency by value. Ethereum is presently consolidating within the $4,200–$4,400 range, yet analysts caution about notable resistance looming nearby. “A breakout above $4,500 could trigger increased bullish momentum, potentially pushing ETH toward $4,875,” said Walke. “However, failure to clear this range could result in a retest of support near $4,200.”
Walke further indicated that a crucial zone is marked by a cluster of liquidation levels at about $4,520. This level contains a significant number of stop-losses and pending orders, indicating that any breakout or breakdown at this point could result in rapid price fluctuations. Meanwhile, outflows from ETFs and seasonal pressures have impacted Ethereum, which accounted for the largest portion of recent liquidations.