Bitcoin price dip shakes trader confidence: Is the 2025 bull run in danger?

Key Points

1. Bitcoin fell to $114,013, causing over $200 million in liquidations of leveraged bullish positions and impacting BTC derivatives sentiment.

2. Bitcoin's correlation with the S&P 500 has climbed above 70%, trading more like a high-risk tech stock rather than 'digital gold.'

3. Demand for 1-year US Treasuries has risen, reflecting investor caution amid weaker job market data and rising unemployment.

4. BTC options market shows a shift from bullish to bearish sentiment, with put options trading at a premium over call options.

5. Despite the dip, derivatives data does not yet signal an end to the 2025 bull run, and August is historically a slow month for Bitcoin except in post-halving years.