Bitcoin has retested crucial support levels below $110,000 as evidence indicates that smaller investors are entering to buy as whale selling diminishes.
Key Points:

• Bitcoin has seen renewed interest from buyers willing to ‘buy the dip’ around $110,000.
• Continuous support tests are captivating traders’ attention.
• Bulls may achieve a bullish RSI divergence with a strong daily close.

Bitcoin (BTC) maintained pressure on critical support levels, with signs of buyer interest rebounding.

BTC/USD one-hour chart.
Source: Cointelegraph/TradingView

BTC Price Returns Below $110,000

Data from Cointelegraph Markets Pro and TradingView displays BTC/USD dipping below $110,000 on Bitstamp.

“It’s time to lock in again; this is the fourth time testing the demand area,” wrote trader Skew about the former in a post on X.
BTC liquidation heatmap.
Source: CoinGlass

Trader and Analyst Rekt Capital remarked that BTC/USD has filled an outstanding gap in CME Group’s Bitcoin futures market.

"#BTC Bitcoin has now completely filled its Weekly CME Gap between $109680 and $111310. Read more

Rekt Capital also observed a potential bullish divergence in the RSI.

Bitcoin Dip-Buyers Finally Emerge

Onchain analytics platform Glassnode shared positive trends indicating that entities holding between 1 to 1,000 BTC are showing significant accumulation.

Bitcoin trend accumulation by investor cohort.
Source: Glassnode/X

As reported by Cointelegraph, the Crypto Fear and Greed Index has indicated ‘fear’ this month, aligning with six-month lows.