Bitcoin's price has recently stabilized between $110,000 and $115,000 following a peak at $123,100, largely influenced by retail sell pressure, especially on Binance. The negative Net Taker Volume indicates a bearish sentiment among retail traders. Despite this, the ability of Bitcoin to hold above $110,000 reflects buying support. The Coinbase Premium Index shows limited enthusiasm among U.S. buyers, suggesting profit-taking or caution as they await better entry points. Meanwhile, the Korean premium index is negative, indicating Bitcoin is trading at a discount there, further revealing weak demand. Analyst Boris Vest asserts that the liquidity battle near $116,000 and resistance around $120,000 highlights that bulls are still in control, but a potential retracement to the fair value gap between $115,200 and $112,000 might fuel the next rally. Bitcoin researcher Axel Adler Jr. maintains that there’s room for upside towards $139,000 without substantial overheating risks, emphasizing ongoing buying support in the market.

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