Bitcoin prices fell to $114,337 in early August, facing downward pressure. The decline could be attributed to multiple factors, including broader market uncertainty stirred up by Trump’s tariff war.
However, one important factor appears to be moderated by the mitigation of the influence of investors’ emotions. Bitcoin price action is more affected by market conditions than investor panic.
Bitcoin Investors are Cooling Down
Bitcoin’s profit supply fell below the 95% threshold this week. This has historically marked the top of the market. For more than a month, Bitcoin supply remains within the 95% profit zone, indicating an overly bullish market.
Typically, this increases sales pressure as the market becomes optimistically saturated. As the supply of profits is currently declining to 92.5%, that pressure is beginning to ease, potentially indicating a shift to more neutral or positive momentum.
About Token TA and Market Updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s daily crypto newsletter.
Changes in the exchange’s net position have recently reached a height of four months, reflecting the impact of the highest market conditions. An increase in exchange balance means higher sales activities, usually due to the market failing to maintain bullish momentum.
However, this recent sales trend appears to have lost steam. Uncertainty surrounding future events, such as Trump’s tariff decisions, is likely to cause hesitancy in the market.
As sales pressures fell, Bitcoin was able to enter the consolidation phase. This provides an opportunity for BTC to recover lost ground, especially as the broader market stabilizes.
BTC prices are hanging
Bitcoin is currently priced at $114,337, facing bear pressure. The parabolic SAR is above the candlestick, suggesting downward momentum. However, the 50-day exponential moving average (EMA) is still strongly held as support, indicating that the broader market sentiment is not entirely negative. Bitcoin continues to consolidate and may discover stability above the $110,000 level.
Given current factors, Bitcoin prices could now be consolidated within the $110,000 range. If Bitcoin can break through the $115,000 level and secured as support, a potential rise of $117,261 is possible. But it seems unlikely that it will exceed $120,000 in the near future.
If market experience is low because external factors such as future tariff announcements could lead to further declines in Bitcoin. If you lose your support of $111,187, Bitcoin could drop to $109,476, as it could be even more vulnerable. If Bitcoin violates $110,000, your bullish or neutral outlook could be invalidated.
Post 4 months high BTC sales tapered market top pressure, what’s next for Bitcoin price? It first appeared in Beincrypto.
