Bitcoin Stabilizes at $118K as Whale Outflows Rise and Market Hesitation Grows

Bitcoin Stalls Near $118K: Neutral Macro Conditions and Whale Outflows Hint at Short-Term Pullback Risk

Bitcoin (BTC) is ending July in a state of equilibrium, with macro sentiment stabilizing and the price hovering around $118,000. The market is showing no dominant bullish or bearish bias, according to the Bitcoin Macro Heat Phase Index, which currently reads 44%—a neutral zone historically associated with hesitation and indecision among market participants.

While technical structures still support a potential breakout, growing signs of caution—including elevated profit-taking, large holder outflows, and dwindling buy-side momentum—suggest BTC may face further consolidation or even a short-term dip before regaining upward momentum.

Bitcoin’s Macro Heat Phase Index at 44% Signals Neutral Sentiment

The Macro Heat Phase Index, developed to track Bitcoin's position relative to broader market cycles, shows BTC is sitting in a neutral zone—neither overheated nor undervalued.

44% reading reflects a balanced risk-reward environment.

This typically suggests a “wait-and-see” sentiment from both bulls and bears.

According to Axel Adler, this macro stabilization hints that BTC is absorbing recent volatility—including minor ETF inflows and waves of profit-taking—without clear directional conviction.

Read more : https://24crypto.news/bitcoin-stabilizes-at-118k-as-whale-outflows-rise-105564