$BTC is stuck below $112K with traders eyeing downside risk. Key levels: $106.7K liquidity + $100K Fib confluence. Some models even flag $87K as a cycle correction target (-30%). Macro? CPI week → Fed cuts fully priced in while global CBs already easing. Flows? BTC ETPs added $444M last week vs. $900M ETH outflows. But whales offloaded >100K BTC in 30 days, the largest drawdown since mid-2022. Add Binance perp liquidity thinning, and the near-term picture looks fragile. The tension is clear: institutional inflows on one side, whales and weak liquidity on the other. Which force wins the next leg?