Recent market data shows that from July 14 to July 16, there were significant strong demand signals for Bitcoin. Especially from July 14 to July 15, Bitcoin's price fell from a high of 123,000 USD to 115,000 USD, and the demand performance during this decline is more significant for reference than the synchronous growth seen during price increases.
(Figure 1)
Generally speaking, when prices rise, increased demand is often driven by market FOMO sentiment, which is not surprising. However, the presence of substantial capital entering during a downturn precisely indicates that there is a batch of 'waiting for correction' funds in the current market — they are already well-prepared for positioning. After being tempered by previous market fluctuations, players' expectations for a Bitcoin correction have generally been raised: funds that previously planned to enter below 100,000 USD are now beginning to actively enter after a slight correction, no longer fixated on deeper declines.
Recently, the market experienced short-term panic due to the news that 'ancient whales are transferring Bitcoin to OTC platforms,' causing many players to worry that this would trigger a collapse in secondary market prices. However, from a market logic perspective, whales choosing the OTC channel to offload their assets is fundamentally to reduce the direct impact on the platform's order book and avoid drastic price fluctuations. The real reason for the short-term price pressure is actually the chain reaction triggered by panic sentiment: the platform's liquidity is already limited, and a large number of players are transferring Bitcoin to the platform for sale due to panic, which has instead caused short-term selling pressure.
A more critical signal is that currently, when Bitcoin is close to the high point of 120,000 USD, the demand intensity has exceeded previous levels. This performance reminds us of the market nodes in February and November 2024 — at that time, there was also a similar 'strong demand at high levels' characteristic.
(Figure 2)
Of course, this does not mean that there will be no corrections or spike events in the short term, nor can we directly determine the strength of future trends. However, from the perspective of capital behavior, even if a correction occurs, it is difficult for it to reach a deep level in the short term; the market's absorption capacity has quietly strengthened.
