Key Takeaways:
-
The price of Bitcoin has been up to $ 110,000, but the low demand purchase area suggests that the upside may be limited.
-
High retail Fomo and a closely overbought RSI signal a potential BTC price correction.
Bitcoin (Btc) The price has formed a series of lower highs and lower lows in 1-hour frame time since reaching a three-week high $ 110,300 on July 2.
As the weekend approaches, the price of BTC failed to break above the All times high in $ 112,000.
What keeps the price of bitcoin below $ 112,000?
Bitcoin prices have rarely 5% in the last 48 hours, reaching an intraday of $ 110,392 on July 3, each data from Cointelegraph Markets Pro and Tradingview.
Despite this performance, the ability to push above all times high to $ 112,000 is currently limited due to the lack of consumers.
The volume of Bitcoin Delta Metric area, an indicator that measures the net difference between the purchase and sale of trading quantities, shows that the net spot purchase in exchanges remains negative even BTC prices try to break.
Related: Bitcoin could take $ 116K in July in the middle of the ‘perfect storm’ of Macro Catalysts
This suggests a lack of momentum, which potentially leads to a pullback or integration if derivative -driven bombs dominate without market support.
“The BTC is ruined, but where is the place to be demanded?” Says Swissblock Technologies data technologies in the latest post on X, adding:
“If nothing really demands, breakouts are running on fumes. We need consumers to keep the price breakout.”
Looking forward, K33 research Points Those volume areas tend to be lower from June to October compared to the residue of the year, with July in history one of the quiet months, worth only 6.1% of the annual volume. It can stop the BTC attempt Press Fresh Record Highs In the next few weeks.
K33 Research wrote:
“Although July 2025 brings potential catalysts, along with Trump’s budget budget, tariff decisions, and a crypto executive order deadline, the seasonal patterns suggest markets can continue to drift low volume and low-volatility doldrums despite the backdrop of the news.”
As cointelegraph reportedThe price of bitcoin requires fresh demand from spot buyers to break the current price detection.
BTC price can see a “short rally alt”
Bitcoin’s advance to $ 110,000 has led to a strong Fomo, along with businessman who put calls for higher prices, according to Onchain Data Provider Santiment.
“The Crypto Crowd is officially -flipped from FUD to Fomo following Bitcoin’s increase to $ 109.8k,” the firm Says In a post of July 3 in X.
However, the sentiment in the crypto market, at present In the territory of “greed” at 73often indicate a contractor’s move.
Historically, when retail entrepreneurs show excessive optimization, markets tend to reverse oi -Pause as investors integrate with excessive conditions.
If combined with high volumes of trade and imaginary bet, the sentiment-driven of greed can reduce prices temporarily, resulting in a pullback.
The Bitcoin’s Kaba -child index, O. RSIShowing close to over -thinking conditions in four to six timeframes. This indicates that the price enters the fatigue of the zone, indicating a potential correction in the shorter term.
While Bitcoin attempts to break $ 110,000, the current euphoria suggests a brief stop or integration is likely that the market “reset” is retalious, which potentially stabilizes before continuing to climb.
SANTIMENT wrote:
“Prices have moved opposite the retail traders, so don’t be surprised at a short rally that stops as the greed is high.”
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
