The price of the weekend Bitcoin – and the new month – began in the worst possible way after a decrease of $ 115,000 on Friday, August 1. This low price seems to get worse, as the first cryptocurrency is now below the level of $ 113,000 after US President Donald Trump’s recent threat.
This recent movement has sparked market talks on the possibility of Bitcoin already to the highest price in the current session. However, it seems that the consensus is that the BTC price still has the ability to start at least another leg before finally reaches its peak in the cycle.
BTC can reconsider the previous altitudes in the short term: Analyst
in QuickTake Post On the Cryptoquant platform, the Amr Taha series is designed for the Bitcoin rising box after the recent transformations in the Bitcoin market and the broader total dynamics. In the context of the BTC market, the Crypto Pundit highlights the changes in the size of the metal spot on the Binance, the largest exchange of cryptocurrencies in the world by trading.
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The data from Cryptoquant shows that Binance has recorded more than $ 7.6 billion of the daily BTC spot, which represents one of the most important increases in recent weeks. However, this prominent height coincided with trading activity with a decrease in the Bitcoin price from more than 118,000 dollars to about $ 113,000, indicating an increase in volatility and the re -trading position.
Taha pointed out that from a historical point of view, the immediate nails of this size – such as the 7 billion dollar increase seen on June 22 – were often linked to local bottoms or main price repercussions. Thus, the latest leap in the size of the Bitcoin spot can be a renewed demand for investors and is eventually bullied with the market pioneer.
In the context of the total economy, Taha highlighted that net liquidity in the US Federal Reserve witnessed a significant increase on Friday, as it jumped from 6 trillion dollars to 6.17 trillion dollars. For more context, clear liquidity is usually an important micro driver such as Bitcoin.
As such, the height of net liquidity means that more money in the financial system is circulating in the financial system, which can flow to stocks, encrypted currencies and other assets of risk. Consequently, the increases coincided with the liquidity of the net of the Federal Reserve Bank historically with the upcoming transformations across the markets, as it appears during the late 2023 and early 2024.
Ultimately, Taha concluded that the combination of high bitcoin spot on Binance and that net net liquidity at the Federal Reserve can pave the way for the bullish continuation in the leading cryptocurrency.
Bitcoin price at a glance
From writing these lines, the BTC price is about $ 112,600, which reflects a decrease of more than 1 % in the past 24 hours.
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Distinctive image from Istock, tradingvief chart
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