ChatGPT Price Prediction: Bitcoin holds firm at the 112,000 USD support, the next stop may challenge 122,000.

Bitcoin (BTC) is at a critical moment. According to the latest Technical Analysis from ChatGPT, after whales dumped 24,000 BTC (worth about 2.7 billion USD) on various exchanges, triggering a liquidation wave, BTC is testing the key support level of $112,398. Although the market is under short-term pressure, institutional reverse Accumulation actions may lay the groundwork for the next wave of Rebound.

Whale dumping triggers liquidation waterfall

Event Review: From August 16 to 24, a large wallet sold off 3,000 to 6,000 BTC in batches, totaling 24,000 BTC, triggering a chain reaction of leveraged liquidations.

Market Impact: BTC plummeted from a high of 113,667 USD to 110,588 USD, with an intraday volatility of 2.7%.

Institutional Actions:

Strategy Reverse Accumulation 3,081 BTC (approximately 357 million USD), total holdings reach 632,457 BTC (accounting for 3% of total supply).

Japan and other institutions have also increased their holdings, but BlackRock and others have reduced their positions by nearly $200 million, with ETF funds continuing to flow out.

ChatGPT Technical Analysis: EMA support becomes key

(Source: Trading View)

Price position: BTC is currently at $112,398, below the 20-day EMA ($115,656) and the 50-day EMA ($114,789), and is testing the 100-day EMA ($110,856) support level.

RSI: 42.24, close to the oversold area, has the conditions for a rebound.

MACD: -568.66, Signal Line -676.11, the negative histogram shows that momentum continues to deteriorate.

Trading volume: 14.81K BTC, institutional participation is stable, and ATR shows that volatility remains high.

Institution and Market Divergence: Liquidation Trap or Trend Reversal?

Majority opinion: Analysts believe that this decline resembles more of a “liquidation trap” targeting excessive leveraged positions, rather than a genuine distribution.

Market sentiment: LunarCrush data shows that social sentiment remains 76% positive, but the focus is on “whale manipulation” and “double top warning.”

Structural support: BTC market capitalization still reaches 2.23 trillion USD, with a dominance of 57.8%, down only 9.87% from the historical high on August 14.

Three Future Trend Scenarios (within 90 days)

1. Support defense successful (40% probability)

(Source: Trading View)

Hold at $110,856, institutions continue accumulation, pushing BTC back up to $118,000–$122,000.

2. Expansion Consolidation (35% Probability)

(Source: Trading View)

Consolidate in the range of 108,000–115,000 USD, completing the accumulation and creating space for the next wave of institutional entry.

3. Deeper Correction (25% Probability)

(Source: Trading View)

Breaking below 110,856 USD, probing 103,700–108,000 USD, creates the best long-term layout opportunity.

Conclusion

ChatGPT’s Bitcoin analysis shows that $112,000 is the core battleground of the current bulls and bears. If this support level is maintained, BTC is expected to challenge $122,000 within 90 days; if it fails to hold, it may face a deeper correction, providing a golden buying opportunity for institutions and long-term investors.