Bitcoin is nearing all-time highs after achieving another record weekly close, with traders anticipating a potential false move to $105,000 aimed at capturing liquidity. July showcased significant growth, with BTC/USD closing around $109,240, reinforcing bullish sentiments despite some market skepticism. Attention is drawn to macroeconomic factors, particularly US trade tariffs and declining dollar performance, which are influencing risk assets. While Bitcoin funding rates are falling, indicating a rise in short positions, this discrepancy might trigger a short squeeze. Additionally, the Fear & Greed Index shows extreme investor greed, signaling a potential divergence between market sentiment and economic realities. The market is closely watching liquidity levels, particularly at $110,000 as the key resistance and a possible trip to $105,000 aligning with technical indicators. This environment poses both opportunities and risks for traders as Bitcoin seeks to stabilize and potentially rally further.

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