The price of Bitcoin remains in an area where little bullish momentum is seen as it continues to hover without its highest level ever. After reaching more than $ 123,000 earlier this month, the assets fell slightly, as it was traded at $ 11,9343 at the time of writing this report.
This is a 2 % profit during the past week, but it still leaves BTC almost 3 % less than its last peak. The silent price procedure reflects a market that appears to be unified amid different signals of the series on the series and regional demand standards.
recently analysis From Cryptoquant contributors indicates a weak appetite for Bitcoin in both the United States and South Korea, two markets that have historically contributed to the large trading volume.
A closer view of the exchange activity and regional pricing installments indicates a potential transformation in the investor’s behavior, as achieving profits becomes more prominent and it appears that traders hesitating to buy from the current levels.
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Regional installments indicate a decrease in demand from the United States and South Korea
According to the participation of Cryptoquant, the Arab analyst, the Coinbase Premium, which measures the price difference between Bitcoin on Coinbase and other international stock exchanges, failed to rise dramatically although BTC reaches record levels in July.
The indicator remained on the levels seen in June, indicating that American investors using Coinbase did not buy bitcoin with the gathering.
The Arab series noted that the index movement towards negative lands, in addition to increasing bitcoin prices, may indicate profits between American investors. This means that some may expect to be corrected before the market is reinforced.
Likewise, the Korea Primium Index decreased, indicating the decrease in demand from retailers in South Korea. This indicator reflects the spread of bitcoin on Korean exchanges and global averages.
The negative trend indicates that Korean merchants sell less than the global average, with poor interest in purchasing on local platforms. The Arabic series explains this as retail traders who may wait for a discount to re -enter the market, indicating caution among individual investors at the main encryption center in Asia.
Exchange flows indicate high pressure pressure
In addition to the image, the most prominent encrypted contributor, Shayanmarkets, is a remarkable development in the BTC activity on the chain. Delay Data Bitcoin reveals the largest net net flowing flow since July 2024.
Large flows usually indicate that holders are preparing for sale, increasing supply on trading platforms and contributing to potential declining price pressure. Shayanmarkets explained that this behavior, especially when it occurs near its highest levels, may indicate institutional profits or driven by the boxes.
Such moves are often in line with efforts to reduce risk exposure during excessive market gatherings. Historically, the nails follow the exchange of price corrections, making this trend closely monitoring.
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However, the redistribution of the capital from Bitcoin to other assets may benefit the broader encryption market. The analyst indicated that Altcoins can see a renewed attention as the money revolves from BTC. If this trend continues, traders may notice increased volatility and speculative movement through alternative symbols in the short term.
A distinctive image created with Dall-E, the tradingView chart
The post Bitcoin Hovers Below $120K as On-Chain Indicators Point to Slowing Demand first appeared on Investorempires.com.
