Bitcoin Momentum Shifts to Consolidation Amid Profit-Taking with Possible Range Between $105K and $110K
Main Idea
Bitcoin's momentum has shifted from an uptrend to consolidation, with profit-taking and market speculation leading to a price retracement, while options market data indicates short-term bullish sentiment.
Key Points
1. Bitcoin (BTC) has experienced a 4% drop this week, retracing 7% from its all-time high of $123,000 to around $114,000.
2. Profit-taking surged to nearly $3 billion per day in July, mirroring sell-offs seen at previous local peaks.
3. Options market data shows increased hedging activity, with traders buying short-dated call options, reflecting bullish sentiment.
4. The Coinbase Premium Index (CPI) turned negative, indicating a decline in demand from U.S. investors.
5. BTC 25 delta skew rose between 4% and 6%, suggesting short-term bullishness despite the current consolidation.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin’s momentum has
Latest News
- Tom Lee Predicts Ethereum Surge to $15,000 as Wall Street Boosts Institutional Adoption2025-08-02 11:45:25
- Bitcoin May Test $100,000 Soon as Davinci and Arthur Hayes Share Cautious Predictions2025-08-02 11:32:53
- Solana Faces Bearish Pressure as Whales Sell and Retail Buyers Accumulate, $154 Support Possible2025-08-02 11:32:29
- BitMine Chairman Predicts Ethereum Surge as Institutions Quietly Accumulate 5% of ETH Supply2025-08-02 11:32:09
- Cold Wallet’s CWT Token Shows Potential Amid Ethereum’s $4K Surge and Solana’s Market Cap Outlook2025-08-02 11:16:13