Bitcoin is facing increased sell pressure as its price approaches a two-week low around $113,500 amid a broader market downturn. Over $100 million in long positions were liquidated in just an hour as Bitcoin dipped, aligning with declines in US stocks. Experts highlight key support levels between $107,000 and $110,000, with the 100-day simple moving average (SMA) at $110,950 serving as a potential safety net for the asset. Meanwhile, on-exchange liquidity at $105,000 has been identified as a 'plunge protection' measure. Despite this sell-off, institutional demand remains a focal point, as spot Bitcoin exchange-traded funds (ETFs) see significant inflows despite weakening on-chain fundamentals. The recent ETF net outflow of $121 million and the first outflow seen by BlackRock's iShares Bitcoin Trust since early August indicates profit-taking is prevalent among investors.

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