Bitcoin Price Analysis: BTC Struggling To Reclaim $110,000 As Macro Uncertainty Persists

Bitcoin (BTC) is struggling to reclaim the $110,000 level as investor sentiment remains ￰0￱ and on-chain data continue to favor sellers, who have overpowered buyers in spot and futures markets despite buyers buying the ￰1￱ Labor Day holiday and selling by Bitcoin whales have added to market uncertainty, with the flagship cryptocurrency at risk of a drop below $105,000. El Salvador Takes Measures To Counter Quantum Threat El Salvador has split its Bitcoin (BTC) holdings, transferring 6,724 BTC across 14 separate ￰2￱ transfer was done as a security measure to counter the threat of quantum ￰3￱ Salvador’s Bitcoin Office stated in a post on X, “El Salvador is moving the funds from a single Bitcoin address into multiple new, unused addresses as part of a strategic initiative to enhance the security and long-term custody of the National Strategic Bitcoin ￰4￱ splitting funds into smaller amounts, the impact of a potential quantum attack is minimized.” Over 6 million BTC could be at risk if quantum computers become powerful enough to crack elliptic curve cryptography (ECC) keys, according to a report by quantum research company, Project Eleven.

However, while industry experts praised El Salvador’s proactive measures, they stressed that quantum computing is not an immediate ￰5￱ Court Sentences 14 To Life In Bitcoin Extortion Case An Indian anti-corruption court has sentenced 14 individuals, including 11 police officers and a former member of the Bhartiya Janata Party (BJP) MLA, to life imprisonment in connection with the kidnapping and extortion of a Surat-based businessman in ￰6￱ judgment was delivered by Special Judge ￰7￱ in ￰8￱ court found the accused guilty of criminal conspiracy, kidnapping for ransom, illegal detention, and ￰9￱ case centers around the kidnapping of local businessman Shailesh Bhatt, who had reportedly recovered a portion of his investment from BitConnect developer Dhaval Mavani in the form of Bitcoin (BTC) after the company shut ￰10￱ hearing this, BJP MLA Nalin Kotadiya and senior police officers orchestrated Bhatt’s kidnapping and held him at a farm near the state capital, ￰11￱ kidnapping was led by Amreli crime branch inspector Anant Patel and several other ￰12￱ filed a complaint with the Union Home Ministry, prompting an investigation and the arrest of the guilty ￰13￱ (BTC) Whales Turn To Ethereum (ETH) A Bitcoin OG whale purchased 96,589 ETH after selling 4,000 BTC during a 12-hour buying spree over the ￰14￱ OG whale, who began rotating capital into ETH in August, continued purchasing over the weekend.

On-chain data shows the whale now holds $3.8 billion in ￰15￱ whale sold 4,000 BTC worth $435 million over the weekend, exchanging it for 96,859 ￰16￱ trader then deposited another 1,000 BTC into Hyperliquid, a decentralized exchange, potentially for more ￰17￱ holders have been selling their BTC holdings and buying ETH for the first ￰18￱ analysts believe this is a sign of a maturing market and that whales are diversifying into other assets thanks to positive regulatory steps by the US ￰19￱ (BTC) Price Analysis Bitcoin (BTC) is up almost 1% during the ongoing session as it attempts to recover lost ground after Friday’s ￰20￱ flagship cryptocurrency lost the crucial $110,000 level on Friday after it plunged nearly 4% to a low of $107,469 before settling at $108,378.

Price action was mixed over the weekend as BTC rose 0.41% on Saturday before dropping 0.53% to $108,247. The current session sees the price up 0.80%, trading just above $109,000. BTC is almost 10% below its all-time high of $124,500. The decline comes as investors prepare for Friday’s August data ￰21￱ report is the first major macroeconomic release of September, and could determine whether the Federal Reserve announces interest rate cuts later this ￰22￱ believe a 0.25% rate cut is a certainty this month.

However, softer payroll data numbers could see interest rates cut by 0.50%. Low interest rates are generally considered bullish for digital assets as they incentivize investors to bet on risk ￰23￱ has traded mostly downwards since last week, dropping 1.30% on Saturday and falling to a low of $110,635 on Sunday before settling at $113,478. Selling pressure persisted on Monday as the price fell almost 3% to $110,127. Despite the overwhelming selling pressure, BTC recovered on Tuesday, rising 1.51% to cross $111,000 and settle at $111,788.

The flagship cryptocurrency was back in the red on Wednesday, dropping 0.48% to $111,253.