3 days ago
Bitcoin (BTC) is consolidating successful a thin-liquidity “air gap” betwixt $110,000 and $116,000 arsenic the marketplace waits for caller request to found a steadfast base.
According to an Aug. 6 report by Glassnode, BTC’s terms pulled backmost to $113,000 aft mounting a caller all-time precocious supra $123,000 successful mid-July. This terms question near galore caller buyers underwater and created a proviso clump with a outgo ground supra $116,000.
The little bound of that clump repeatedly supported rebounds until July 31, erstwhile BTC broke little into the aerial gap. Historically, specified low-liquidity ranges tin morph into accumulation zones arsenic buyers measurement successful astatine a perceived discount.
The study compared entity-adjusted URPD snapshots from July 31 and Aug. 4 to gauge dip-buying.
Image: GlassnodeFollowing a rebound from astir $112,000, investors acquired astir 120,000 BTC and lifted spot prices back supra $114,000, evidencing opportunistic demand.
Even so, the $110,000-$116,000 set remains airy successful aggregate supply. Time spent accumulating present could perchance physique a level for the adjacent determination higher.
New resistance, metrics not overheated
The rally has yet to reclaim the outgo ground of holders with amounts of 1 week and 1 period old, present with a decisive absorption adjacent $116,900. A sustained interruption supra would awesome request regaining control, portion a nonaccomplishment raises the hazard of a deeper trial of the erstwhile all-time precocious scope astir $110,000.
According to the report, terms sits successful a “warm” but not overheated authorities and remains supra the short-term holder (STH) outgo ground astatine $106,000. This terms level is simply a threshold that has historically divided near-term bullish and bearish phases successful Bitcoin bull markets.
Image: GlassnodeSTH proviso successful nett has slipped from 100% to 70% during the drawdown, accordant with the midline of anterior bull cycles. The stock of STH spent measurement successful nett has cooled to 45%, beneath neutral, implying a balanced marketplace with neither broadside dominant.
ETF flows and leverage
On Aug. 5, spot Bitcoin exchange-traded funds (ETFs) successful the US saw a 1,500 BTC outflow, the largest bout of ETF sell-side unit since April 2025. Historically, these episodes person been brief, but monitoring persistence is key.
In derivatives, perpetual backing rates person slipped backmost beneath 0.1%, a neutral portion that indicates cooling speculative appetite and tempered upside condemnation successful the adjacent term.
Taken together, Bitcoin appears locked successful the $110,000-$116,000 corridor, accumulating proviso and waiting for request capable to retake $116,900 and reassert the uptrend.
The station Bitcoin settles into $110k–$116k ‘air gap’ arsenic marketplace awaits caller demand appeared archetypal connected CryptoSlate.
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