Bitcoin Holds $116K as Long-Short Battle Heats Up

Bitcoin regained the $116,000 level over the weekend, but market sentiment remains fragile. The Fear & Greed Index cooled to a neutral 53, showing investors have pulled back from the recent wave of optimism.

🔎 On-chain insights:

Over $400M in dormant BTC has been reactivated, with the SOPR at 1.17, hinting that long-term holders are taking profits.

BTC reserves on exchanges are now at a 7-year low — a bullish supply signal.

A remarkable 92% of Bitcoin supply is profitable, reflecting strong market positioning.

⚡ Derivatives pressure:

A dip below $114K could liquidate nearly $700M in longs.

A breakout above $118K risks $1B in shorts being wiped out.

With leverage stacked on both sides, Bitcoin is at a critical inflection point. Traders now look ahead to next week’s Federal Reserve meeting, which could dictate the next major move.

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