#USCryptoWeek
Price & Market Movement
BTC is trading around $117.8K, nearly flat (–0.01% change) from yesterday .
Volatility is modest: intraday range between $117.0K–$118.2K .
📊 Major Drivers
The recent rally has been fuelled largely by leveraged futures traders—making up 71% of demand—highlighting the rally’s momentum-taking nature .
This surge triggered major short liquidations and a short squeeze, pushing BTC toward new highs near $119K .
⚠️ Market Sentiment & Caution
Despite hitting new ATHs (~$118.8K on July 11), some analysts warn of a possible “bull trap” and ~45% correction risk .
Overall market caution remains, especially in the face of mixed signals and unclear spot market support .
🔮 Summary
Bitcoin remains at elevated levels near $118K, underpinned by a futures-led momentum—yet spot interest remains subdued. Watch for any signs of consolidation or reversal, especially if leveraged positions unwind further.
Price & Market Movement
BTC is trading around $117.8K, nearly flat (–0.01% change) from yesterday .
Volatility is modest: intraday range between $117.0K–$118.2K .
📊 Major Drivers
The recent rally has been fuelled largely by leveraged futures traders—making up 71% of demand—highlighting the rally’s momentum-taking nature .
This surge triggered major short liquidations and a short squeeze, pushing BTC toward new highs near $119K .
⚠️ Market Sentiment & Caution
Despite hitting new ATHs (~$118.8K on July 11), some analysts warn of a possible “bull trap” and ~45% correction risk .
Overall market caution remains, especially in the face of mixed signals and unclear spot market support .
🔮 Summary
Bitcoin remains at elevated levels near $118K, underpinned by a futures-led momentum—yet spot interest remains subdued. Watch for any signs of consolidation or reversal, especially if leveraged positions unwind further.
