Bitcoin Bull Run Over at $111K? 5 Things to Know in BTC This Week

1. Bitcoin Price Weakness Sparks Talk of $100K Retest

Bitcoin (BTC) starts the final week of August under pressure, trading around $111,647 after sharp weekend volatility.

Data from Markets Pro and TradingView shows BTC/USD briefly dipping to $110,700, its lowest level since July 10. According to CoinGlass, over $640 million in longs were liquidated within 24 hours, triggering fresh bearish sentiment.

Traders remain divided:

• Some expect a bounce if BTC fills the large CME futures gap opened over the weekend.

• Others warn that a breakdown could lead to a full retest of $100K, with little visible bid support below current levels.

BTC/USD one-hour chart. Source: TradingView

2. Bitcoin Whales Dump Into ETH in “Healthy” Rotation

A weekend sell-off highlighted whale behavior after one entity unloaded 22,769 BTC ($2.59B) onto Hyperliquid, causing a $4,000 price drop in minutes.

Data from Arkham Intelligence shows the same wallet rotated into 472,920 ETH ($2.22B) spot and even opened a $577M ETH long.

Analyst Vijay Boyapati dismissed conspiracy theories, framing the rotation as a necessary distribution event:

Crypto liquidations (screenshot). Source: CoinGlass

“Massive blocks of supply are being distributed into the population. This cycle is one of the greatest monetization events in history.”

Statistician Willy Woo echoed the point, noting OG whales—who bought BTC for under $10—still hold disproportionate influence, requiring $110K+ of new capital per coin sold to absorb their supply.

3. Smaller Hodlers Keep Accumulating

While whales are distributing, smaller investors remain in accumulation mode.

CME Bitcoin futures one-hour chart. Source: Daan Crypto Trades/X

On-chain analytics from CryptoQuant shows

• Wallets holding <10 BTC continue to grow their balances.

• Addresses with 10–100 BTC are actively taking profits.

• Mid-tier wallets with 100–1,000 BTC show indecision, balancing between accumulation and distribution since $105K.

BTC liquidation heatmap. Source: CoinGlass

Related: Ethereum’s August Rally Sparks Questions: Will History Repeat with a September Downtrend?

Analyst BorisD summarized the trend:

“Distribution is still the dominant trend, but its intensity is weakening. The $105K level stands out as the strongest zone and a move down could trigger widespread fear.”

4. Is the Bull Market Already Over?

Some traders are now openly calling the end of the bull cycle.

Trader Roman cites a looming head and shoulders reversal pattern, arguing:

“The BTC bull run is over. High timeframe signals confirm it.”

BTC supply distribution by wallet entity. Source: Willy Woo/X

Other bearish signals include:

• RSI divergence – Price made new highs while RSI lagged, a classic reversal setup.

• Wyckoff analysis – Chartist ZAYK Charts sees downside potential toward $95,000.

Despite the pessimism, optimists argue that BTC remains within 10% of all-time highs, suggesting the market could just be in a consolidation phase.

Bitcoin whale address count. Source: Glassnode

5. Fed’s Inflation Gauge and Macro Factors Take Center Stage

The week’s macro spotlight falls on Friday’s release of the Personal Consumption Expenditures (PCE) Index, the Fed’s “preferred” inflation metric.

Markets currently price in a 90% chance of a 0.25% rate cut at the September 17 FOMC meeting, per CME’s FedWatch Tool.

However, trading firm Mosaic Asset warned that Powell’s recent Jackson Hole speech doesn’t guarantee a dovish Fed:

Bitcoin accumulation vs. distribution by wallet cohort (screenshot). Source: CryptoQuant

“If abandoning average inflation targeting means the Fed is less tolerant of inflation above 2%, then betting on multiple rate cuts may be misplaced.”

Adding to volatility, Nvidia’s earnings report on Wednesday could impact risk assets, including Bitcoin, given its outsized role in AI and tech-driven market momentum.

BTC/USDT one-day chart. Source: ZAYK Charts/X

Bottom Line

Bitcoin enters the last week of August under heavy pressure, with:

• $100K retests back on the table

• Whale-to-ETH rotations reshaping market liquidity

• Retail hodlers quietly stacking sats

• Traders split on whether the bull run has ended

Fed target rate probabilities for September FOMC meeting (screenshot). Source: CME Group FedWatch Tool

With the PCE inflation report and Fed rate cut speculation looming, the coming days could determine whether BTC regains momentum—or confirms fears of a deeper correction.

Related: Tokenized RWAs Eye $400 Trillion TradFi Market, Says Animoca