📌Market Landscape_
🟢• Bitcoin trading at $117,595, stabilizing after reaching ATH of $124,457 on August 13
• Significant correction on August 15 brought price to $119,043, now fluctuating in $117.4K-$117.8K range
• Institutional investors driving momentum, contributing 75% of trading volume
• Market sentiment nearly split: 50.4% bullish vs 49.6% bearish
Key Catalysts
• Regulatory developments boosting confidence: SEC authorizing in-kind crypto ETP transactions, Senate legislation expected by September
• Layer-2 protocol developments and CeDeFi yield opportunities attracting wider participation
• Messari and Sygnum executives projecting increased Bitcoin adoption through year-end
• Counterbalance from selling pressure and technical indicators showing mixed signals
Trading Outlook
• Technical analysis: Bullish MACD but RSI approaching overbought territory (70+)
• $117K psychological level serves as critical support; resistance at previous $124K high
• Rising trend channel remains intact despite correction
• Analyst Leshka.eth identifies August as potential peak window for current cycle
• Economies.com projects possible retest of $123,118 level
