As ChainCatcher reported, amid increasing macroeconomic pressures, BTC fell from a high of $106,000 to below $103,000 before rebounding slightly. Santiment reported that retail investor sentiment is now at its most pessimistic level since the announcement of Trump’s Liberation Day tariffs in early April, but due to the current wave of retail pessimism being unusually strong, it may signal a reverse signal for price rebounds based on past patterns, as Bitcoin has previously rebounded shortly after similar panics, as large investors often take advantage of periods of retail selling to increase holdings at more favorable prices. The Federal Reserve’s recent stability in interest rates has further exacerbated market pressures.
Over the past month, Bitcoin has traded in a relatively tight range between $100,000 and $110,000. Meanwhile, on-chain metrics show that Binance’s open interest is declining, indicating that derivatives traders are continuing to deleverage, while whale wallets have been steadily increasing their holdings since 2023, meaning that large investors are continuing to increase their holdings despite short-term uncertainty.
