Trades #BTC at $113,659, down 8.69% from the all-time high #ATH of $124,474, currently testing the critical support area between $113,000 and $113,500

A major resistance has formed at $120,700 with declining trading volumes indicating typical accumulation behavior

Technical indicators show a bearish bias: the Relative Strength Index (RSI) is negative (accuracy 75%) and the MACD is bearish (accuracy 57.14%)

Capital flow dynamics

Net outflows were observed with increasing selling pressure related to exchange-traded funds #ETF , raising market volatility

Clear regional imbalance: Asia (+799.23) shows strength, while Europe (-1472.47) and America (-2641.25) face significant sell-offs

A concerning volume pattern where sales (203 BTC) outpace purchases (136 BTC), although the buy-to-sell ratio remains positive at 72.44%

Trading strategy considerations

Closely monitoring the level of $113,000 as a breakout could accelerate the drop towards the level of $108,000

Patient optimistic investors may consider accumulating positions at support levels, targeting third-quarter expectations between $130,000 and $135,000

Bears may target the resistance area at $117,000 to open short positions, but caution is advised for a potential reversal

Market sentiment overview

Community sentiment is mixed but leans positive: 58.06% optimistic versus 41.94% pessimistic

Optimists point to developments across chains and institutional demand as catalysts

Monitoring the level of $117,500 as a key psychological turning point that could determine the short-term direction #MetaplanetBTCPurchase #BTC走势分析 $BTC