📌• Bitcoin trading at $118,357.94, moving in a weekly range of $116,485-$119,320
• Metaplanet added 518 BTC at average price of $118,519, bringing holdings to 18,113 BTC ($1.85B)
• BTC market dominance declined 3.22% to 60.5%, suggesting growing altcoin interest
• July closed at $115,800, establishing strong support at $114,000
Institutional Momentum
• Metaplanet's "555 Million Plan" targets 210,000 BTC by 2027, currently ranking as 6th largest corporate holder
• Their average acquisition cost ($101,911) remains profitable at current levels
• BitVM Bridge enhances Bitcoin ecosystem liquidity and functionality
• Contrasting force: Short-term holders drove 85.5% of recent selling pressure
Trading Considerations
• Technical indicators show "bullish consolidation" with decreasing volatility
• Potential liquidation cascade if BTC breaks above $119K ($3.35B in shorts) or below $108K ($2.35B in longs)
• Margin long-short ratio at 59.6% bullish, with overall sentiment 85.7% optimistic
• Historical "August Curse" warns of potential 7.87% monthly decline since 2010
Action Points
• Watch $119K resistance as key breakout level for bullish continuation
• Consider $114K as strategic entry point if downside materializes
• Monitor Metaplanet's ongoing acquisitions as potential price floor
• Evaluate position sizing against potential volatility as August historically shows negative performance