Bitcoin Slips Below $118K After ARK Invest Sells $148M on Coinbase

Key Insights:

• Bitcoin (BTC) has finally broken a key support level of $118,000 after multiple tests; now next support appears at $110,000.
• ARK Investment dumped $148.8 million worth of Bitcoin on Coinbase.
• Despite the bearish price action, investors and traders are showing a bullish outlook.

Bitcoin (BTC) has lost control of its key support level at $118,000, which it had held since August 10, 2025. The potential reason behind this breakdown or in other words, the loss of control is the significant sell-off by asset management giant ARK Invest.

Recently a data from the on-chain transaction tracker Lookonchain shares where it was found that ARK Investment has dumped 1,268 BTC worth $148.88 million into Coinbase. This was the only point when BTC faced strong selling pressure and resulting in a fall below the $118,000 level.

Bitcoin Price Momentum and Expert Bold Prediction

Following this transaction, the Bitcoin price has slipped 1.50% over the past 24 hours and currently stands at $117,500. During this period, investors and traders’ participation has plummeted, leading to a 35% drop in the trading volume recorded.

This fall in the trading volume, along with the price, hints lack of interest among crypto enthusiasts following this dump and losing control over $118,000 level.

Looking at the current market scenario, a prominent crypto trader, James Hynn, shared a post on X which now garnering massive attention from the crypto community. In the post on X, Hynn shared that BTC is heading to $112,000 and possibly $109,000 level in the coming days.

Bitcoin (BTC) Price Action and Technical Analysis

According to the expert technical analysis, Bitcoin on the four-hour chart turned bearish and is poised for a downside move.

The reason it lost control over $118,000 level. Another factor supporting this negative outlook is the formation of bearish divergence on the daily chart, which suggests downside momentum is ahead.

Based on recent price action and historical patterns, if the current momentum doesn’t reverse and reclaim the $119,200 level, this bearish outlook remains intact. Additionally, it could bring a 5.80% of price dip and Bitcoin may reach to the $110,000 level in the future.

At press, the technical indicator Supertrend has turned red and is hovering above the BTC price, which suggests that the asset is in a downtrend with strong bearish pressure. At the same time, the Relative Strength Index (RSI) stands at 41, which suggests weakening momentum and leaves room for further downside.

On-Chain Metric Flashes Bullish Outlook

Despite flashing a bearish price action, investors and traders remain optimistic, as revealed by the on-chain analytics firm Coinglass.

Data from the spot inflow/outflow reveals that over $361 million worth of Bitcoin has left the exchanges over the past 48 hours. This substantial outflow of assets from exchanges suggests a strong buying activity and also hints that investors are seizing the current dip by adding BTC at a lower level.

Whereas, traders on the other hand, seems beting against the price action as bets on the long positions are higher than the short positions, Data from the Coinglass metric reveals that BTC’s major liquidation levels are at $116,265 on the lower end and $118,545 on the uppers side.

These levels are not just major liquidation but traders at these levels are over-leveraged and have built $680 million worth of long positions and $538 millions worth of short positions.

These positions built by traders have made it clear that bulls are dominating and believe that BTC price can control itself from falling from the $116,265 level.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.