Bitcoin rejected at the Weekly Open 🚨
Dumped ~3.3% from $110,512 to $106,850 right after the weekly open.
What’s driving the move? Let’s break it down 👇
2/ The pressure is coming from Coinbase.
The Coinbase Premium Gap was negative all weekend—reaching -$80 on Friday and around -$30 during the dump.
This suggests consistent sell pressure from US-based spot traders.
3/ Short-Term Holders aren’t capitulating (yet).
Only -9k BTC was deposited to exchanges at a loss.
By comparison:
Sep 26: -56k BTC
Oct 11: -54k BTC
Oct 14: -55k BTC
So far, they're holding strong
4/ 📉 Bitcoin has tested $107k support 4 times already.
Each test weakens buyer conviction at that level. If this continues, a breakdown becomes more likely.
5/ 📉 Ethereum is even weaker—$3,700 has now been tested 5 times.
Multiple retests without strong bounces = signs of fragility.
6/ Support still holds—for now.
But each bounce is getting thinner. The risk increases every time it's tested.
Stay cautious. These levels won't hold forever.
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