$BTC
Bitcoin is down 4.6% this week with a market cap of $2.23 trillion and a 24-hour trading volume of $36.35 billion. On the daily chart, BTC has been trending lower since mid-July, with consecutive bearish days pushing it below short-term support.
The hourly chart confirms steady selling pressure, bottoming out at $111,987 during the U.S. afternoon session. Despite the decline, the daily volume remains moderate compared to the high-volatility stretches seen in late May and early July. At the same time, bitcoin derivatives markets are telling a whole other story from top to bottom.