“Bitcoin can reach the market maximum in the coming months if the cycles continue to be similar. This bear scenario can happen if the demand for ETF cash does not increase. J. Powell’s speech was positive for cryptocurrencies because she opened the way to reduce the rate in September. Besides, although BTC price fell below $ 112,000, it still looks like […]”, – WRITE: Businessua.com.ua
Bitcoin can reach the market maximum in the coming months if the cycles continue to be similar. This bear scenario can happen if the demand for ETF cash does not increase.
J. Powell’s speech was positive for cryptocurrencies because she opened the way to reduce the rate in September. In addition, although the price of BTC has fallen below $ 112,000, it still seems to be in good condition on the network and technically. We summarize the situation of the king of cryptocurrencies in today’s ballot!
Institutional players depart from bitcoins to ETF cash Since the start of ETF cash in 2024 price Bitcoin moved according to demand for these products . Indeed, the price of bitcoin showed good results in 2024 and 2025 when etf has been suffered a significant inflow of funds :
The inflows and outflows of spot etf bitcoin. Source: Coinglass
Unfortunately since mid -July is observed deceleration . From July 21 it was 12 days in minus and a day the inflow of funds did not exceed $ 500 million . In addition, ETF is experiencing a series with five days in a row outflow of funds (-1.2 billion dollars). We can say that Institutional players are currently turning away from ETF but Fixation of profit remains reasonable . So is it just a pause before returning the inflow of funds to ETF? J. Powell’s speech maybe reassured investors .
According to OH-chain-metric, the bitcoin is in a bull trend. The price of bitcoin has significant support in blockchain about $ 109,000 with the realized price of short -term owners. On Bull markets The king of cryptocurrencies usually relies on this level. He also goes beyond the other Support in blockchain :
The evolution of the average price of buying new bitcoin kites. Source: Cryptoquant
The average price of buying new whales – those who bought BTC less than 155 days ago – can also serve dynamic support . As can be seen on the graph, the king of cryptocurrency bounced from the purple curve at the beginning of the year, and even later recorded a new Ath . Therefore, in the case of a deeper fall, you can expect buyers’ reactions at the blockchain level located at the mark $ 108,000 .
In addition, we note that the first market capitalization is reached on bovine market when she comes out Outside the purple curve . Thus, at the moment buyers are theoretically still controling the price.
In early August the price of bitcoin fluctuated between bull sliding average (EMA 9/EMA 18) . And this rebound allowed the price to mark The new ath and get closer to $ 124,500. ATH after that sellers appeared but possible New border between Bull sliding average :
Bitcoin’s price against the dollar (3D) – register with Trading View using our affiliate link.
To save Bull impulse will need to bounce and close above previous ath . If sellers are convincing, the price may fall to $ 104,000 support. The bear scenario may begin if this support is lost. Actually, fall below $ 104,000 can lead to Reduce to $ 90,000. RSI’s pulse indicator remains stuck below the bear line of trend and until the situation changes, The impulse will be brittle .
Despite the decrease in the demand for ETF, the technical situation and the network situation are currently encouraging. Since 2020, periods of growth have been observed when bitcoin has traded above the average price of buying new whales. However, despite the recent fall, bitcoin remains higher than this level on the network. Will he reach $ 180,000 by the end of the year? At least, that’s what Anthony Scaramuchchi believes!
Important Bitcoin News
- The top of the market for bitcoin in just two months? This bear scenario can unfold if the king of cryptocurrencies adheres to the same dynamics as during the previous bull markets.
- The investor was robbed of $ 91 million in bitcoins through social engineering fraud. We explain in detail what happened.
- Winklvoss brothers donated $ 21 million in the Bitcoins of the Protrampovsky Committee on Policy and Economic Policy (PAC) to support the cryptocurrency industry in the United States.
- Eric Trump, the son of the President, positions himself as Bitcoin Maxi and predicts that BTC can reach $ 175,000 by the end of 2025 and $ 1 million in the long run.
Source: Journalducoin.com
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