With the Bitcoin price, the entire week is still in red and the price trade on Zijweg, the investor sentiment is weakened and the question slows.
Summary
- The price of Bitcoin fluctuates around $ 113,000 in the past week while the market is struggling to find Momentum.
- The cryptocurrency has lost around 8% during the week and is now 8.4% below the all time of $ 124.128.
- Cryptoquant analysis shows that Bitcoin’s struggle is driven by a reduced demand and increased profit capacity.
The price of Bitcoin (BTC) acts at $ 113,770 from the moment of the press and continues his week -long wanderer around this price level while struggling to make a decisive movement. Although the active 0.02% has risen in the last 24 hours, the performance of the past few days has been flat, with a loss of about 8% a week.
The extensive decline places BTC 8.4% below $ 124.128 of all time high reaches earlier this month, making Sentiment Bearish and raised questions about the short -term direction.
Coinglass facts Shows the open interest in Bitcoin has fallen 0.36% to $ 37.9 billion in the last 24 hours, with the majority of the decrease from eternal futures. At the same time, the trade volume fell from 24 hours from 7.32% to $ 66.41 billion, which is a reflection of the activity of the Koelmarkt.
Decreasing volume In addition to a decrease in open interest, traders suggests cutting positions, indicating that the market in a cautious break.
Bitcoin question slows down as taking a profit continues
The weakness in the price of Bitcoin comes in the midst of a wider trend of falling demand and continuous profit making. According to a cryptoquant of 20 August analysisThe amount of Bitcoin that is collected by the market has fallen sharply in recent months, with two -thirds of 174,000 BTC in July to 59,000 BTC currently.
Buying institutionally also slows down. The net purchases of Bitcoin-listed funds in the past month are on a modest 11,000 BTC, the lowest since April. Likewise, the accumulation of companies has been delayed by large holders, whereby buying due to entities such as strategy falls from 171,000 BTC in November 2024 to 27,000 BTC in the last 30 days.
In the meantime, taking a profit in the short and long term is becoming investors. BTC holders have realized around $ 74 billion in net profit since July 4, in addition to another $ 2 billion by new whale investors. Such a large -scale increase in profit adds a downward pressure to prices, which increases volatility in the short term.
The Cryptoquant bull score now shows that the “extra bullish” market is switched to a “bullish cooldown” phase, which indicates that although the total market remains positive, strong momentum is blurred.
However, the strong next to the risk seems to be limited for the time being. The analysis added that BTC could find support from around $ 110k, because holders usually have less chance of selling a lot around this price, which can help prevent a sharper fall.
Yet the market remains careful. If the question does not return and taking a profit continues to exist, Bitcoin may have difficulty getting the momentum back and the current Bearish signals have to turn positively before strong upward movements can be resumed.
