Bitcoin prices fell to $112,828 on August 22, falling 1.4% as retail demand cooled and whales quietly accumulated.
summary
- Bitcoin traded at $112,828, 9.3% below the all-time high of $124,128 on August 14th.
- Retail demand is declining, but whales purchased 16,000 BTC last week.
- Technical shows $112K as key support. Failure can push the price up to $105,000.
Bitcoin (BTC) is currently 9.3% below its peak of $124,128 on August 14th, down 6% that month. Trading activity has slowed significantly, indicating cooling momentum as daily spot volumes fell 23.9% to $31.58 billion.
In addition to the weak spot, derivative activity is declining according to data from the coin glass market. Open interest rose 0.3% to $81.43 billion, while futures volume fell 16.7% to $661.7 billion. A decrease in volume and an increase in open interest indicate that traders are cautious and hold their position rather than shutting down.
Retail demand will decline while Bitcoin Zilla intervene
Retail demand fell 5.7% last week, according to a post on X on August 21 by Cryptoquant analyst Maartunn. He describes small buyers as “tourists” and can quickly leave when prices become unstable.
The retail store is already there. 🤔
The change in RETAIL demand is -5.7%.
They were tourists in the crypto market here due to hype and disappeared when it faded. pic.twitter.com/qiu0axjpxb
– Market (@je_mismun) August 21, 2025
Maartunn also noted that Bitcoin retested its previous record high of $112,000 zone twice over a short span. He repeatedly retested, warning that he often weakened support and foreseeed deeper losses.
However, large holders seem to be viewed against the other side. In an analysis on August 22nd, Cryptoquant contributor Caueconomy reported that the whales have purchased over 16,000 BTC in the past seven days. A similar accumulation preceded a short rebound earlier this month, suggesting that some investors may view current levels as a purchase opportunity.
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On-chain signal refers to an early BTC market reset
Data shared by GlassNode on August 21 shows that short-term holders who bought between $113,000 and $120,000 are currently sitting at a small loss.
Local bottom anatomy
1- As the market enters the post-ATH return phase, short-term price measures are often shaped by how top buyers respond to an increase in unrealized losses.
Currently, a dense supply cluster accumulated between $113,000 and $120,000 since early July…pic.twitter.com/qn7cmnbjch
– GlassNode (@GlassNode) August 21, 2025
In the past, local bottoms tend to form when this ratio approaches 0.9, indicating deeper yield. Current measurements mean that the market is in the early stages of a possible reset, even if you don’t see the bottom.
Bitcoin price technology analysis
Bitcoin is testing the bottom edge of the Bollinger band. This is not only a sign of a condition that it is often not sold, but it is also a warning of increasing volatility. At 42, the relative strength index is neutral, but decreases. The momentum index is bearish, with MACD showing negative crossovers and short-term moving averages (10-50 days) indicating continuous pressure.
Bitcoin Daily Chart. Credit: crypto.news
The long-term moving average (100 and 200 days) remains supportive, highlighting the overall upward trend for Bitcoin. Oscillators such as Williams’ percentage rate and stochastic RSI suggest that there may be opportunities for short recovery.
If the whales continue to accumulate and support remains at $112,000, Bitcoin could attempt to recover to $118,000. If this level is not maintained, you may reach the next important support zone, which is in the $105,000-$108,000 range.
read more: Coinbase CEO predicts Bitcoin will reach $1 million by 2030
