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Bullish
🔥 $BTC Calm Before the Storm? Tariffs Could Spark Move!
Bitcoin price has been stabilizing below $116,000 barrier this week, showing market indecision.
Trump's massive tariffs take effect, and further trade pronouncements may cause volatility.
Bitcoin (BTC) has been trading flat below $116,000 this week, showing traders' caution amid macroeconomic uncertainties. US President Donald Trump's retaliatory tariffs are already in effect,
US President Donald Trump's retaliatory tariffs began Thursday. Bitcoin prices have fluctuated between $113,000 and $116,000 this week, indicating market indecision and waiting for a trigger.
K33 Research reports that BTC 30-day volatility is at one-year lows at 1.33% and seven-day volatility is at 1.2% after touching a near two-year low of 0.76% on July 30, the lowest since September 2023.
In addition, a recent $58 billion US debt auction saw foreign demand drop to a one-year low, forcing domestic banks and investors to absorb the excess. If this trend continues, the Federal Reserve may be pressured to resume money printing, which could boost Bitcoin's hedge appeal.
Institutional demand eases. On Wednesday, SoSoValue data showed a $91.55 million inflow for US spot Bitcoin ETFs, ending a four-day outflow skid. However, Bitcoin's inflow is still smaller than on July 10, before its jump to $123,218 on July 14.
BTC's low-liquidity price ranges reveal fresh accumulating zones.
On Wednesday, Glassnode revealed that Bitcoin has entered a low-liquidity “air gap” between $110,000 and $116,000, as depicted in the graph below.
Bitcoin price fell over 3% in the two days after closing below its lower consolidation level at $116,000, retesting its 50-day Exponential Moving Average at $113,182. The 50-day EMA is around the previous all-time high of $111,980, making it a significant support zone. As of Thursday, BTC is over $114,900.
If #BTC closes over $116,000 daily, it might climb above $120,000, its psychological milestone.
BTC may revisit its May 22 all-time high of $111,980 if it closes below its 50-day EMA at $113,182.
Bitcoin price has been stabilizing below $116,000 barrier this week, showing market indecision.
Trump's massive tariffs take effect, and further trade pronouncements may cause volatility.
Bitcoin (BTC) has been trading flat below $116,000 this week, showing traders' caution amid macroeconomic uncertainties. US President Donald Trump's retaliatory tariffs are already in effect,
US President Donald Trump's retaliatory tariffs began Thursday. Bitcoin prices have fluctuated between $113,000 and $116,000 this week, indicating market indecision and waiting for a trigger.
K33 Research reports that BTC 30-day volatility is at one-year lows at 1.33% and seven-day volatility is at 1.2% after touching a near two-year low of 0.76% on July 30, the lowest since September 2023.
In addition, a recent $58 billion US debt auction saw foreign demand drop to a one-year low, forcing domestic banks and investors to absorb the excess. If this trend continues, the Federal Reserve may be pressured to resume money printing, which could boost Bitcoin's hedge appeal.
Institutional demand eases. On Wednesday, SoSoValue data showed a $91.55 million inflow for US spot Bitcoin ETFs, ending a four-day outflow skid. However, Bitcoin's inflow is still smaller than on July 10, before its jump to $123,218 on July 14.
BTC's low-liquidity price ranges reveal fresh accumulating zones.
On Wednesday, Glassnode revealed that Bitcoin has entered a low-liquidity “air gap” between $110,000 and $116,000, as depicted in the graph below.
Bitcoin price fell over 3% in the two days after closing below its lower consolidation level at $116,000, retesting its 50-day Exponential Moving Average at $113,182. The 50-day EMA is around the previous all-time high of $111,980, making it a significant support zone. As of Thursday, BTC is over $114,900.
If #BTC closes over $116,000 daily, it might climb above $120,000, its psychological milestone.
BTC may revisit its May 22 all-time high of $111,980 if it closes below its 50-day EMA at $113,182.
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