The price of Bitcoin has decreased after reaching its peak, specifically down -2.34% to $118,910.74. Some experts predict that Bitcoin could drop to $100,000 after reaching a new peak of around $111,000 - $124,000.
Reasons why the price of Bitcoin may decrease
• Muted Implied Volatility: Investors are uncertain about the sustainable breakout of Bitcoin above $110,000.
• Low Institutional Interest: Open Interest on CME remains low, indicating a lack of interest from institutional investors.
• Bearish Divergence: The number of Daily Active Addresses and network growth is decreasing while the price of Bitcoin is increasing.
• Unlocked profits in a danger zone: The 30-day MVRV ratio shows that investors who bought Bitcoin last month are averaging 10% profit, which could lead to profit-taking.
Expert Expectations
• Analyst RektProof predicts the possibility of Bitcoin dropping to $100,000.
• Bitcoin will reach a new peak of around $130,000 by mid-August 2025