The main dishes to remember:
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BTC is consolidated in a descending channel, but a low onchain activity suggests a lack of momentum.
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The increase in data on the inflation of the nucleus (2.7%) and the growth of sticky prices reduce the probability of reduction rate drops, the maintenance of pressure on bitcoin and risk assets.
Bitcoin (BTC) experienced significant price volatility at the start of the week, with a weekend and a Monday, swings leading to a significant shaken on the derivative market.
According to Glassnode, $ 28.6 million in long positions and 25.2 million dollars in shorts were liquidated within 24 hours, reflecting a rare double -sided affurrent which attracted leverages and highlighting the rapid change in the feeling of the market.
The open interests released by the BTC fell by around 7%, falling to 334,000 against 360,000 BTC. This sharp decline indicates temporary compensation for the speculative lever effect, which suggests that the market is in the reset phase.
While Bitcoin remains in the range of $ 100,000 to $ 110,000, the ONCHAIN activity of BTC shows signs of cooling. Profitability measures are discolored and user participation remains moderate, deducting a consolidation phase. Glassnode noted that the market seems to digest recent gains, probably awaiting a renewed increase in demand to feed the next leg.
From a technical point of view, the failure of Bitcoin to sweep the external liquidity almost $ 109,000 resulted in a gradual progressive drop in the graph of 4 hours. The current price action remains confined in a downhill channel, with a key area of interest between $ 103,400 and $ 104,600.
This area is aligned with a daily difference in fair value (FVG) and is supported by the 200 -day exponential mobile average (EMA), which increases the rebound potential.
Since BTC collects internal liquidity in this beach, a break up above the channel descending towards new peaks remains a plausible scenario. However, until the momentum is strengthened and ONCHAIN’s activity reverses, the larger market structure could probably remain in consolidation mode.
Related: long -term bitcoin holders Stack 800K BTC per month in HODL recording
Bitcoin faces contrary winds as central inflation increases
A lack of bullish follow -up could mean that the lowering momentum can persist in the coming week. Despite a recent positive chat around a drop in potential interest rates, the latest inflation data suggests that the federal reserve has few reasons to move its position.
Personal consumption expenses or inflation of the PCE, the favorite metric of the Fed, reached 2.3%, which is in accordance with expectations, while the basic PCE climbed to 2.7%, slightly higher than 2.6%planned. This has marked the first increase since February 2025, indicating renewed inflationary pressure.
Price growth showing signs of adhesion, the Fed is likely to maintain its rate break, keeping the financial conditions tight, which is unfavorable for risk assets such as Bitcoin.
Glassnod data also supports the prudent prospects, showing a minor increase of $ 7.7 billion in the punctual volume during the second quarter. The transfer volume fell 36% earlier in the quarter, highlighting a speculative lack of emergency.
Related: Bakkt Holdings Files of $ 1 billion shelves that could supply Bitcoin purchases
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
