Bitcoin is undergoing a slight retrace after hitting a new all-time high of $123,000 on Monday. While the broader trend remains bullish, short-term sentiment has shifted as selling pressure begins to build. Bulls are now defending key support levels, with the $117,000 zone emerging as a critical line that could determine whether the uptrend holds or deeper corrections follow. Related Reading: Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth The pullback has introduced fresh uncertainty into the market. According to new data from CryptoQuant, Bitcoin Futures Position Dominance has started to lean bearish, suggesting that short positions are gaining momentum across major derivatives platforms. This shift reflects growing caution among traders, particularly as long-to-short ratios weaken and funding rates normalize after weeks of elevated bullish activity. Although Bitcoin remains far above its 2024 highs and the macro structure still favors bulls, the current pause is being closely watched. Investors are looking for confirmation that the recent all-time high was not a local top. With fear slowly creeping in and derivatives data flashing early warning signs, the coming days could be pivotal. Whether bulls can hold the line—or whether bears take control—will likely set the tone for Bitcoin’s next major move. Bitcoin Retraces As Bearish Sentiment Rises Bitcoin has pulled back more than 5% since reaching its all-time high of $123,000 earlier this week, with current price action testing the strength of short-term support levels. While retracements are common after major breakouts, some analysts note that Bitcoin’s decline has been sharper than that of Ethereum and many altcoins, which have either held their ground or continued to climb. Top analyst Axel Adler pointed out a significant shift in sentiment following the ATH. According to his insights, bears began aggressively shorting immediately after the price peak, leading to a sharp drop in bullish dominance. Most notably, the long-to-short ratio flipped into negative territory for the first time in weeks, signaling a clear rise in short interest across derivatives platforms. This pivot in positioning reflects growing caution among traders and raises the stakes for bulls. The $117,000 level is now seen as a key support zone—if Bitcoin fails to hold above it, a deeper correction could follow, potentially dragging the broader market down with it. The timing is especially critical. This week, the US Congress kicks off “Crypto Week,” a series of discussions and potential votes on important legislation that could reshape the regulatory landscape for digital assets. The outcome of these debates may act as a catalyst for renewed bullish momentum—or deepen the correction if uncertainty dominates. As markets brace for clarity, all eyes remain on Bitcoin’s ability to defend $117K and reclaim its short-term trend. Related Reading: $30B In Bitcoin Added By Accumulator Wallets: Are Long-Term Players Preparing Early? BTC Pulls Back: $114K–$117K Key Zone to Watch The 4-hour chart shows Bitcoin retracing sharply after reaching an all-time high of $123,200 earlier this week. Currently trading at $116,900, BTC has dropped over 5% from its recent peak, marking its first significant correction since the breakout above $109,300. This pullback brings Bitcoin back toward the $114,000–$117,000 zone, which now acts as short-term support. This area coincides with the rising 50-period simple moving average (SMA) at $114,466 and is closely aligned with the previous breakout structure. A successful retest of this level could provide the foundation for a new leg higher. Related Reading: Bitcoin Long-Term Holders Remain Steady As CDD Normalizes After False Alarm However, failure to hold this zone could open the door for a deeper correction toward the $109,300 support level, which served as a multi-week resistance throughout May and June. The bearish momentum on the latest candles, combined with high sell volume, reflects rising short-term uncertainty. Despite this, Bitcoin remains above all major moving averages on this timeframe (50, 100, and 200 SMAs), indicating that the broader trend is still intact. Featured image from Dall-E, chart from TradingView
After a brief drop to $98,000 over the weekend, Bitcoin (BTC) has recovered and is now trading above $101,000 at the time of writing. While concerns about a potential double top persist, on-chain data has yet to show any major warning signs. Bitcoin Undergoing Healthy Consolidation According to a recent CryptoQuant Quicktake post by contributor Avocado_onchain, despite broader market sentiment turning bearish, BTC has not yet displayed any significant red flags. In fact, the cryptocurrency still appears to be in a consolidation phase. Related Reading: Bitcoin Whales Pull 4,500 BTC From Binance, Hinting At Incoming Rally Notably, the 30-day moving average (MA) of Binary Coin Days Destroyed (CDD) indicates that long-term holders are continuing to hold onto their BTC rather than selling. This suggests that investors remain optimistic about Bitcoin’s potential for further upside in the near term. For the uninitiated, the 30-day MA Binary CDD smooths out daily fluctuations to show how frequently long-term Bitcoin holders are moving their coins over a month. A lower value suggests strong holding behavior and accumulation, while a higher value may indicate distribution or selling pressure from experienced holders. The analyst noted in a previous analysis that when Bitcoin’s Binary CDD exceeded 0.8, it was typically followed by a steep correction. However, this time, the indicator has peaked around 0.6 and is now on the decline – suggesting the market is far from overheating. They added: Although the data may not align perfectly from cycle to cycle, this moderation below 0.8 still implies the market may be entering a consolidation period, and further price or time correction could follow. The analyst emphasized that this indicator does not signal the end of the bull run. Rather – similar to the previous two market phases – Bitcoin could be following a “staircase-like movement,” where periods of consolidation are followed by a strong upward leg. They concluded that BTC historically tends to rally when market attention fades and sentiment remains quiet. Therefore, the current period of low volatility could be a precursor to Bitcoin’s next major move to the upside. Are BTC Bears In Trouble? While the current bearish sentiment may have raised hopes for further price pullback for the largest cryptocurrency by reported market cap, both technical and on-chain indicators suggest otherwise. Related Reading: Bitcoin Yearly Trend Suggests Cycle Top Near $205,000 By Year-End, Analyst Says For example, short positions have been rising sharply within the $100,000–$110,000 range, increasing the likelihood of a short squeeze – which could drive BTC to a new all-time high (ATH). That said, some caution is warranted, as short-term holders have been selling during recent dips, showing a lack of confidence in Bitcoin’s ability to sustain its upward trajectory. At press time, BTC trades at $101,954, up 1.1% in the past 24 hours. Featured image with Unsplash, charts from CryptoQuant and TradingView.com
While Bitcoin (BTC) has remained range-bound – trading between $100,000 and $110,000 for about a month – both short and long positions have been building within this range, with short positions rising at a faster pace. Bitcoin Long Positions Slightly Ahead But Shorts Catching Up After reaching a new all-time high (ATH) of $111,814 last month, BTC has consolidated within the $100,000–$110,000 range for nearly a month, offering little clarity on its next directional move. Related Reading: Bitcoin Holds Strong Despite Israel-Iran Tensions – Weekly Resistance Begins To Crack According to a new CryptoQuant Quicktake post by contributor BorisVest, fresh data from Binance crypto exchange suggests that long positions currently hold a slight edge in this range. Historical data reveals a pattern – when short positions rise, short squeezes tend to follow. Similarly, a buildup in long positions has often led to long squeezes. A decisive breakout from either end of the current range will likely determine Bitcoin’s next major move. That said, Binance data indicates that while long positions are marginally ahead, the ratio of longs to shorts remains relatively balanced. The funding rate hovering near neutral levels supports this view, reflecting a closely contested standoff between bulls and bears. However, such balance usually signals uncertainty in the market. While long interest has stabilized, short positions continue to climb – likely driven by expectations of further downside amid escalating geopolitical tensions in the Middle East. BorisVest noted: This shows that most market participants believe the rally may not continue. When Bitcoin’s price starts to fall, and funding rates turn negative, it means shorts are piling in quickly. All of this points to this range being a highly sensitive zone. He further noted that with most traders leaning toward short positions, the setup could be ripe for a surprise move in the opposite direction – possibly fuelled by quiet accumulation from larger market participants. Is BTC Preparing For A Big Move? Despite BTC trading within the $100,000 – $110,000 range for the better part of the previous month, several analysts posit that the flagship cryptocurrency is preparing for a major move in the coming weeks. Related Reading: Bitcoin Consolidates as Realized Profits Stay Low – No Signs Of Major Sell-Off Yet Most analysts are leaning toward a move to the upside. For instance, crypto trader Josh Olszewics remarked that if liquidity holds, then BTC may eye a move toward the $150,000 level. From a technical standpoint, the outlook is encouraging. Crypto analyst Mister Crypto recently pointed out that BTC is forming a bullish inverse head & shoulders pattern on the 3-day chart. However, latest on-chain data shows that Bitcoin Network Value to Transactions (NVT) Golden Cross recently moved into an overpriced zone, warranting caution. At press time, BTC trades at $105,940, up 1.1% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
Brewing tensions between Israel and Iran have triggered global de-risking across risk-on assets, including Bitcoin (BTC). The top cryptocurrency by market cap is down 1.7% over the past 24 hours. That said, technical indicators still point toward a potential new all-time high (ATH) for BTC in the coming months. Bitcoin Tracing The ABCD Pattern According to a recent post on X by crypto analyst Titan of Crypto, BTC appears to be following the ABCD pattern. The analyst noted that Bitcoin is currently trading within a wedge formation and could target as high as $137,000 if it breaks out. For the uninitiated, the ABCD pattern is a classic chart setup with four points and three legs – AB, BC, and CD – where AB and CD are typically equal in length, and BC serves as the retracement. It helps identify potential reversal zones and signals when a price move may be losing momentum. Related Reading: Bitcoin Sees Negative Funding On Binance – A Classic Setup For A Short Squeeze? Several other technical indicators also point to a potential new ATH for BTC. For instance, crypto analyst Crypto Caesar shared the following 4-hour Bitcoin chart highlighting a bullish double bottom pattern that suggests BTC is primed for recovery. Fellow crypto commentator Jelle identified a cup and handle pattern on the daily BTC chart. Jelle shared the following chart showing that BTC has already formed the “cup” and is now beginning to shape the “handle,” which typically precedes a sharp upward move. Meanwhile, crypto trader Merlijn the Trader pointed to the Hash Ribbons – an on-chain indicator historically associated with major rallies. Merlijn shared the following BTC daily chart, noting that the last four appearances of this signal preceded strong Bitcoin uptrends. To explain, Hash Ribbons is an on-chain indicator that uses Bitcoin’s 30-day and 60-day hash rate moving averages (MA) to spot miner capitulation and recovery. A bullish signal appears when the short-term average crosses above the long-term one. Are BTC Bears Regaining Ground? Although BTC remains above the psychologically important $100,000 mark, some concerning signs are beginning to emerge. The cryptocurrency was recently rejected from the $110,000 resistance level again, giving bears temporary control. Related Reading: Bitcoin’s Most Reliable Signal Just Flashed—Next Stop: $170,000 Similarly, on-chain data shows that long-term holders are beginning to exit the Bitcoin market which retail investors are starting to join in. Such dynamics are typically observed during the late phase of a bull cycle. In parallel, short-term holders are showing signs of declining confidence in BTC, as reflected in recent on-chain activity. At the time of writing, BTC trades at $105,568, down 1.7% over the past 24 hours. Featured image with Unsplash, charts from X and TradingView.com
On-chain data shows the exchanges recently received a large amount of Bitcoin inflows, but so far, the asset’s price has only been going up. Bitcoin Has Seen A Spike In Exchange Inflows Recently In a new post on X, the institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has talked about the latest trend in the Exchange Netflow for Bitcoin. The Exchange Netflow is an on-chain indicator that keeps track of the net amount of the asset that’s moving into or out of the wallets associated with all centralized exchanges. When the value of this metric is positive, it means the exchange inflows outweigh the exchange outflows. As one of the main reasons why investors would deposit their coins to these platforms is for selling-related purposes, this kind of trend can have a bearish impact on the asset’s price. Related Reading: Bitcoin & Ethereum Diverge—ETF Flows Just Flipped The Narrative On the other hand, the indicator being under the zero mark suggests the holders are taking out a net number of tokens from exchanges. Such a trend can be a sign that the investors are accumulating, which can naturally prove to be bullish for the cryptocurrency. Now, here is a chart that shows the trend in the Bitcoin Exchange Netflow since the start of the month: As displayed in the above graph, the Bitcoin Exchange Netflow has recently mostly been contained in the negative territory, but the latest value (yesterday’s) has been positive. In total, the investors have deposited a net $262.75 million of the asset to the exchange-connected wallets with this inflow spike. According to the analytics firm, this marks the first day of significant deposits since May 27th. As mentioned before, exchange inflows are something that can turn out to be bearish for the coin’s value. So far, however, the opposite has happened for Bitcoin, as its price has soared instead. This could indicate that even if there are some large holders looking to sell with these deposits, enough demand has surfaced at the same time that BTC has not only been able to ride out this wave of potential selling pressure, but actually add to its recovery. Related Reading: Crypto Suffers $1 Billion Flush As Musk-Trump Feud Shakes Bitcoin According to the analytics firm Glassnode, short liquidations have registered a notable uptick alongside this surge in the cryptocurrency. “Over just 4 hours, total short liquidations spiked from $105K to $359K (24H SMA),” notes Glassnode. Generally, large liquidations end up providing fuel to the price move that caused them, so in this case, it’s possible the short squeeze may have provided support to the Bitcoin rally. BTC Price At the time of writing, Bitcoin is floating around $107,900, up over 3% in the last seven days. Featured image from Dall-E, Glassnode.com, IntoTheBlock.com, chart from TradingView.com
On-chain data shows a Bitcoin indicator is currently retesting a level that has historically acted as a boundary line between bearish and bullish momentum. Bitcoin Short-Term Holder SOPR Is Retesting 1.0 Right Now In a new post on X, the on-chain analytics firm Glassnode has discussed about the latest trend in the BTC Spent Output Profit Ratio (SOPR) of the short-term holders. Related Reading: $200 Million In Crypto Longs Wiped Out As Altcoins Crash To Start Week The “SOPR” here refers to an on-chain indicator that tells us about whether the Bitcoin investors as a whole are selling or transferring their coins at a profit or loss. When the value of this metric is greater than 1, it means the average holder of the asset is selling at a net profit. On the other hand, it being under this threshold suggests the overall market is realizing a net loss. Naturally, the SOPR being exactly equal to the 1 level implies the profits being realized by the investors are canceling out the losses, so the average holder can be assumed to be just breaking-even on their transactions. In the context of the current topic, the SOPR of only a specific investor group is of interest: the short-term holders (STHs). The STHs include the Bitcoin investors who purchased their tokens within the past 155 days. Now, here is the chart shared by the analytics firm that shows the trend in the 7-day moving average (MA) of the Bitcoin STH SOPR over the last few months: As is visible in the above graph, the Bitcoin STH SOPR fell under the 1 mark earlier in the year, implying the STHs took to loss-taking as the price of the cryptocurrency moved in a bearish trajectory. Recently, though, the metric has been making recovery and it’s now back at the break-even level. “Historically, breaking above 1.0 confirms a shift in momentum, while failure to do so often leads to renewed sell pressure,” explains Glassnode. Breaking above the level, however, is no simple task, for it serves as a major psychological level for the STHs. These investors are by definition the entities who are either new to the market or just not resolute enough to hold for long periods, so they can be prone to panic selloffs. When the STH SOPR rises to the 1 mark, it means these investors, who were forced into loss selling earlier, are able to break-even again. Selling pressure can spike when this happens, as STHs rush to get their money ‘back.’ Related Reading: Is It Time To Buy XRP? TD Sequential Says Yes The last time that Bitcoin saw the indicator make a retest of this level was back in January. From the chart, it’s apparent that it successfully found a breakout then, although it was only short-lived. It now remains to be seen whether the metric can surge into the profit zone this time as well or not. BTC Price Bitcoin has been slipping down during the past few days as its price has come down to the $94,500 level. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
Bitcoin is on the verge of a historic move as it pushes toward its all-time highs, surging above the $71,000 mark just yesterday. This breakout has ignited optimism among analysts, who expect further upside in the coming weeks as the US election draws near—a period historically marked by heightened volatility and market shifts. Critical data from CryptoQuant indicates that Open Interest has reached $22.6 billion, with half of these positions held by bears. If Bitcoin continues to climb, this setup creates a high risk of short liquidations, potentially accelerating buying pressure as prices push above $71,000. Related Reading: If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst As momentum builds, the next few days will determine whether BTC can sustain its uptrend or if a consolidation phase below the all-time high will continue. Investors are closely watching these price levels, as a confirmed breakout could signal new highs for Bitcoin. At the same time, a stall might suggest a need for additional consolidation before a larger move. Bitcoin Bears In Serious Trouble Bitcoin bears are now at high risk of forced liquidations as a significant level of short position liquidity hovers above the $71,000 threshold. According to top analyst and macro investor Axel Adler, this scenario could ignite a powerful rally if short positions start liquidating en masse. Creating momentum that propels BTC beyond its all-time highs. Adler shared a CryptoQuant chart on X, noting that Bitcoin Open Interest has surged to $22.6 billion, with half of these positions held by bears. In his analysis, Adler emphasizes that the current market structure is poised for a major squeeze. “There’s no need to hesitate in liquidating short positions to drive the price up,” Adler states, suggesting that a cascade of liquidations above $71,000 could act as a launchpad for Bitcoin, taking it into uncharted price discovery levels. This process, known as a “short squeeze,” occurs when overleveraged short holders are forced to close their positions, resulting in large buy orders that send prices even higher. Related Reading: Solana Bullish Pattern Holds – Crypto Analyst Sets $202 Target If this scenario unfolds, Bitcoin wouldn’t be the only one benefiting. As BTC leads the market, a rally past previous highs could signal a fresh cycle for the entire crypto space. Altcoins typically follow Bitcoin’s lead, and the spillover effect could fuel a comprehensive bull run, with new highs across multiple assets. Investors are watching closely, as such a move could renew interest and investment in the crypto market, drawing in retail and institutional capital. With BTC on the edge of price discovery, the next few days may prove pivotal in shaping the market’s direction. BTC Testing Cruial Supply Bitcoin is testing a supply zone at $71,200, brushing up against the last resistance level before reaching its all-time high. Bulls appear firmly in control, with price action signaling a likely breakout above this level in the coming days. Breaking and holding above the $70,000 mark remains critical. This psychologically significant level reinforces bullish sentiment, encouraging more buyers to enter the market. However, a temporary retracement to gather liquidity at lower demand levels would benefit Bitcoin’s uptrend. A dip toward the $69,000 level, or even down to $66,500, would still align with a bullish outlook. It could attract further interest and create a healthier base for the next rally. These areas would allow Bitcoin to gather liquidity before making a stronger push toward new highs. Related Reading: Ethereum Whale Activity Spikes To 6-Week High – Smart Money Accumulation? Traders are watching, knowing that a sustained move above $71,200 could pave the way for price discovery beyond all-time highs. A successful breakout could trigger renewed momentum across the market, sparking a broader bull run as Bitcoin leads the charge. Featured image from Dall-E, chart from TradingView
Bitcoin has been on an impressive surge since early September, rising by 31% from local lows around $53,000. However, after testing the $69,500 supply level, the cryptocurrency faces selling pressure. Despite this, Bitcoin remains strong, holding above the previous high of around $66,000, a crucial level determining its next move. Related Reading: Solana Could ‘Go Parabolic’ Starting Today – Analyst Sets $370 Target Key data from CryptoQuant reveals that, despite recent bearish attempts, bears are losing control in the futures market. A key indicator has flipped bullish for the first time since July, suggesting that the current selling pressure may not be enough to push Bitcoin lower. With Bitcoin in a critical phase, holding above the $66,000 level would signal continued strength and maintain the uptrend for the coming weeks. Investors are watching closely, as Bitcoin’s ability to stay above this support could pave the way for new highs and further momentum in the bullish cycle. Bitcoin Taker Buyers Starting To Breathe Crypto analyst Maartunn shared recent data from CryptoQuant, revealing that Bitcoin taker buyers in the futures market have struggled to gain an advantage over taker sellers throughout the past year. Maartunn highlighted a chart showing that the BTC net taker volume has turned positive for the first time since July, signaling a potential shift in momentum. The present trend change suggests that bears are beginning to lose control over Bitcoin’s price action, with buyers starting to gain strength. This data points to an accumulation phase, where Bitcoin’s price has been suppressed by large investors, keeping it from making significant gains or marking new monthly lows. The fact that BTC hasn’t posted new lows despite previous bearish pressure reinforces the view that an accumulation period may end, and a new bullish phase could be on the horizon. Related Reading: Ethereum Bullish Breakout Confirmed – Top Analyst Predicts $3,400 Target The coming weeks are critical for Bitcoin, particularly with the approaching U.S. presidential election on November 5. Historically, elections introduce volatility and uncertainty into financial markets; this year is no exception. Broader market trends likely influence Bitcoin’s price action, and traders are watching closely to see how BTC responds to these developments. If Bitcoin maintains its upward momentum, a rally to new highs could follow in the weeks after the election. BTC Testing Crucial Support Bitcoin is currently trading at $66,400 after a healthy retrace from its recent high of $69,500. The price now finds support at $66,000, which acted as a key resistance in late September and has since flipped into a crucial demand zone for BTC. This support is essential for the bulls to maintain control, as holding above $66,000 signals strength and keeps the momentum alive for another attempt at breaking the $70,000 mark. If Bitcoin can hold steady above this support level, the next logical target would be to challenge the $70,000 resistance, which has proven difficult to breach. A successful push past this level would likely trigger further upside, potentially driving BTC into new price discovery. Related Reading: Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up? However, if the price exceeds $66,000, a retrace to lower demand levels could occur. In this case, the daily 200 moving average at $63,300 is the next key area where Bitcoin could find support before resuming its upward trend. The coming days will be crucial in determining whether BTC can maintain its bullish trajectory or if a deeper pullback is on the horizon. Featured image from Dall-E, chart from TradingView
Bitcoin must hold above the $50,000 mark until the Sept. 18 Federal Reserve meeting to avoid more downside.