#Bitcoin Update: $BTC Mirrors 2021 Cycle Top, But Macro Tailwinds May Support Rebound

Bitcoin [BTC] extended last week’s pullback to 7%, breaking a key 2025 trendline support and sparking renewed discussion of a potential market cycle top. As of press time, BTC traded around $115K, closely resembling the 2021 cycle top.

However, analysts note that the macro landscape in 2025 is very different from 2021:

Swissblock: While technicals show fragility, upcoming quantitative easing (QE) and Fed rate cuts could support BTC mid-term.

Bynzantine General & Alex Kruger: Expect no major correction and a possible bottom near $110K.

On-chain data: Peak indicators show no overheated signals, while the SOPR for short-term holders has dropped below 1 — a historical “buy the dip” zone.

Options data: Short-term sentiment is bearish, but the mid-term shows optimism with rising call premiums.

Key macro events this week — July FOMC Minutes and Jackson Hole speech by Fed Chair Powell — could influence BTC’s trajectory.

#BTC #Bitcoin #MarketPullback #StrategyBTCPurchase

With BTC showing short-term weakness but mid-term tailwinds, do you see it holding above $110K or testing lower levels before rebounding? 🤔