Signs of Bitcoin weakness appear, crypto market may adjust

The cryptocurrency market is showing signs of stagnation, with Bitcoin facing significant selling pressure. Some key signals from on-chain data and investor sentiment suggest that Bitcoin's recovery in August may be encountering obstacles.

Whales and long-term investors take profits

On-chain data shows that "whales" who have not been active in the last 7-10 years have moved approximately 3,000 $BTC . Historically, this action often coincides with local price peaks of Bitcoin. At the same time, futures selling volume has also increased, indicating rising selling pressure from traders.

Institutional sentiment cools

The caution of institutional investors is also evident. Bitcoin spot ETF funds have recorded outflows of $1.2 billion in the past two days. According to #CoinShares , this is the first time in 15 consecutive weeks that digital asset investment products have experienced outflows.

These signs, combined with recent macroeconomic data from the U.S., indicate that investors are becoming more cautious. Although the long-term trend of the crypto market is still viewed as positive, experts believe that the likelihood of Bitcoin trading sideways throughout August is very high before any upward momentum can return.