The BTC price wears 113 thousand dollars, as the cooling request indicates more stagnation in front of us star-news.press/wp

With the absence of the Bitcoin price in the Red Tracing Sideways throughout the week, investor morale has been placed and the demand slows down.

The Bitcoin (BTC) price is traded at $ 113,770 from the time of the press, as it continues to hover for a week around this price level as it struggles to take any crucial step. While the basic principle has increased by 0.02 % over the past 24 hours, its performance during the past few days was flat, as it spread an approximate loss by 8 % per week.

The BTC extended recession is 8.4 % less than $ 12,4128 ever reached earlier this month, which led to the transformation of feelings into questions about their short -term direction.

Coinglass Data Bitcoin’s open interest has decreased by 0.36 % to $ 37.9 billion over the past 24 hours, with most of the decline from permanent future contracts. At the same time, trading volume has decreased 24 hours by 7.32 % to 66.41 billion dollars, reflecting the cooling market activity.

The decrease in volume, along with the decrease in open interest, indicates that traders make positions, indicating that the market is in a cautious pause.

The demand for bitcoin slows down with the continued achievement of profits

The weakness of the bitcoin comes amid a wider direction in low demand and constant profit. According to August 20 Cryptoquant analysisThe amount of bitcoin accumulated by the market has decreased sharply in recent months, a decrease of two thirds of 174,000 BTC in July to 59,000 BTC currently.

Institutional purchase also slows down. The purchase of net boxes in the Bitcoin boxes is located over the past month, 11000 BTC, and it is the lowest since April. Likewise, companies’ accumulation of companies slowed down by companies, with entities such as a strategy of 171,000 BTC in November 2024 to 27,000 BTC in the last 30 days.

Meanwhile, achieving profits is turning between short and long investors. BTC holders have achieved about $ 74 billion of net profits since July 4, along with two billion dollars by the new whale investors. Such profit is widely added to the low pressure, which increases the fluctuations in the short term.

Cryptoquant’s bull points now show that the market moves from “additional rise” to the stage of “upward slowdown”, which indicates that while the total market that has remained positive, strong momentum has faded.

However, the strong negative side risks appear to be limited at the present time. The analysis added that BTC may find support for about 110 thousand dollars, as its owners are usually less likely to sell significantly about this price point, which may help prevent a more severe decrease.

However, the market is still cautious. If the demand fails to return and continue to achieve profits, Bitcoin may struggle to restore momentum, and the current landmarks will need positive heart before strong upwards can resume them.