The main dishes to remember:
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Bitcoin lateral exchanges are results of the volume of the Binance lessee which becomes negative, and the premium BTC American and Korean index showing a low demand for points.
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BTC holding above $ 115,000 and a strong absorption of buyers near this level shows that the bulls are determined to push the price of bitcoin to new heights.
Bitcoin (BTC) struggled to maintain the momentum after reaching a new summit of $ 1,2,3100 last Monday, and this deadline price action seems to be motivated by retail pressure, especially on the Binance.
According to cryptotic, the volume of Bitcoin net lessee has again become negative, below 60 million dollars. This metric indicates that market takers performing trades are sold mainly. Negative readings underline the growing lower feeling among the participants in retail, even with Bitcoin which hovers near the record levels.
The trends in regional demand also support this caution. In the United States, the Premium Coinbase index, which measures the price gap between Coinbase and other world exchanges, remained stable for most of July. Despite the Bitcoin rally, the buyers of American spots seem hesitant, either by taking profits or by sitting in anticipation of better entry points. Meanwhile, the Korea Premium index has slipped into a negative territory, a sign that Bitcoin is now negotiated with a discount on Korean exchanges. This divergence indicates continuous sales pressure and a wider lack of enthusiasm among retail traders based in Korea.
Related: exhaustion of the “probable” bitcoin seller like trader eyes 115K $ btc tand price
The bulls hold because bitcoin remains in the liquidity battle
Although the above data shows a lower feeling, Bitcoin holding more than $ 110,000 at $ 115,000 is encouraging. Crypto Boris Vest analyst noted that this current liquidity battle, where sellers are absorbed nearly $ 116,000 and that buyers are capped nearly $ 120,000, shows a healthy two -sided market.
Despite an aggressive sales pressure on the Binance, the recent Delta (CVD) negative of $ 4.1 billion (CVD) was immediately absorbed, followed by a positive peak of $ 2.3 billion while buyers intervene. As long as Bitcoin continues to defend the region of the middle of $ 110,000, the bulls maintain structural control, with the upward potential if the liquidity of the sale is launched. The longer this tight range, the more it opens the way to an escape promoting the dominant upward trend.
From a technical point of view, while an escape greater than $ 120,000 remains possible, a sweeping of the daily difference in fair value (FVG) between $ 115,200 and $ 112,000 could provide the necessary liquidity to feed the next leg. A passage in this area would probably trigger liquidations and prepare the ground for a solid rally beyond the top of all current time of $ 123,100, mainly as a price of the above ineffectiveness.
Bitcoin must show a clear bullish reaction by recuperating the FVG for this scenario to take place. A failure to rebound quickly after having removed recent discounts to almost $ 115,700 could report discolving momentum and expose the risk of decline. In short, the resistance and speed of the rebound in this liquidity zone will be essential to determine whether the BTC is ready for continuation or a deeper retirement.
Bitcoin’s researcher, Axel Adler Jr., said the BTC remains in the growth area, because “market players still support the purchase activity”. Adler Jr added,
“We have not yet entered an excessive optimism phase, there is still room for more upwards around 139 k $ without serious risk of overheating.”
Related: a new Bitcoin analysis indicates that the “most explosive phase” at $ 140,000 is near
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.
