Bitcoin stays strong above $111,000; ETH consolidates ahead of key breakout

Flagship cryptocurrency Bitcoin (BTC) remained resilient on Friday, September 5, hovering above the $111,000 level despite broader caution in global markets. The digital asset traded within a narrow range of $109,347 to $111,723 over the past 24 hours, indicating indecision among traders following an early-week rebound.  At last check, Bitcoin was trading at $111,572, up 0.65 per cent, with a 24-hour trading volume of $63.63 billion, according to the CoinMarketCap. Its market capitalisation stood at $2.22 trillion, maintaining its lead as the most valuable cryptocurrency globally.

 

Meanwhile, roughly $300 million in crypto positions were liquidated over the past 24 hours, led by Ethereum at $97 million and Bitcoin at $54 million. Spot Bitcoin ETF flows also turned negative after two consecutive days of inflows.

 

Technical indicators suggest that Bitcoin could face resistance around $112,500, said Piyush Walke, derivatives research analyst at Delta Exchange. “BTC has rebounded from the $109,300 level but may encounter resistance near $112,500. While the setup suggests a potential recovery, resistance from the MACD and moving averages warrants caution,” Walke said.

 

Shivam Thakral, CEO of BuyUcoin, echoed a cautious outlook, noting that Bitcoin’s current price action has defied broader global trends.  “BTC is holding firm above $111,000, trading between $109,378 and $111,664. Record-high network hash rates are supporting the bullish narrative, but investors are closely watching US economic data and upcoming derivatives expiries for direction,” said Thakral. He warned that a potential dip toward the $93,000–$95,000 range remains possible before renewed upside momentum builds later in the year.

Ethereum slides amid liquidations, ETF outflows

While Bitcoin held steady, Ethereum (ETH) continued to show signs of weakness. At last check, ETH was trading at $4,339, down 0.87 per cent, with a 24-hour trading volume of $34.06 billion. Ethereum's market capitalisation stood at $523.46 billion, securing its place as the second-largest cryptocurrency by value.

 

Ethereum is currently consolidating within the $4,200–$4,400 range, but analysts warn of significant resistance just ahead. “A breakout above $4,500 could trigger increased bullish momentum, potentially pushing ETH toward $4,875,” said Walke. “However, failure to clear this range could result in a retest of support near $4,200.”

 

Walke further pointed to a cluster of liquidation levels around $4,520, which marks a critical zone. This level holds a high concentration of stop-losses and pending orders, meaning any breakout or breakdown here could lead to sharp price movements. Meanwhile, ETF outflows and seasonality pressures have weighed on Ethereum, which contributed the highest share of recent liquidations.

 

Altcoin market snapshot

Among the popular altcoins, XRP (XRP) was trading higher by 0.55 per cent, BNB (BNB) was up 0.10 per cent, and Solana (SOL) rose 0.96 per cent. Meme-favourite Dogecoin (DOGE) gained 0.45 per cent, while TRON (TRX) and Cardano (ADA) advanced 0.69 per cent and 0.16 per cent, respectively, showed the CoinMarketCap data.

 

Among other top performers, MemeCore (M) led the gains on CoinMarketCap, rallying 27 per cent. Other notable gainers included Pump.fun (PUMP), Mantle (MNT), POL (POL), Aerodrome Finance (AERO), Four (FORM), OKB (OKB), Quant (QNT), Filecoin (FIL), and The Graph (GRT), which rose up to 7.5 per cent.

 

Conversely, some altcoins saw notable declines. Ethena (ENA), Aave (AAVE), Pudgy Penguins (PENGU), Chainlink (LINK), Vaulta (A), KuCoin Token (KCS), Injective (INJ), Bitget Token (BGB), Cronos (CRO), and Stacks (STX) were among the top losers, falling up to 7 per cent.