Bitcoin exchanged almost $ 113,700 on Thursday, not having more than $ 115,000 while the 50 -day mobile medium resistance closed a rebound attempt.
The wider market of cryptography added only 1% to 3.86 billions of dollars in capitalization, a move of analysts described as a rebound by descending rather than the start of a recovery.
“The technology sector on traditional financial markets remains under pressure, attenuating the mood of cryptocurrency buyers,” said Alex Kuptsikevich, chief market analyst at FXPro. “Bitcoin’s unsuccessful attempt to return above $ 115,000 only highlights market weakness.”
ETF flows indicate caution. According to Sosovalue, the FNB Bitcoin experienced net outings of $ 523 million on August 19, followed by $ 311 million on Wednesday and $ 192 million on Thursday. Meanwhile, Ether ETF hired more than $ 500 million out of outings during the same period.
The consecutive withdrawals have reversed the entries of the previous week. Kronos Research attributed weakness to profit and liquidations after the BTC record earlier in August.
The feeling was also affected by the headlines. The DSA investigates Alt5 Sigma after its $ 1.5 billion agreement with World Liberty Financial, a company linked to US President Donald Trump.
The metrics on the chain of Ethereum have softened, with active addresses down 28% since July 30.
ETH exchanged $ 4,289, up 0.4% compared to the day, but still down more than 7% compared to recent summits. Analysts claim that the drop in active addresses – now 28% lower than the levels observed at the end of July – reflects a softer participation in retail and could cap in the short term, even if Bitcoin stations.
XRP and Solana showed similar models, XRP sliding at $ 2.87 and Solana at $ 183. The two tokens decreased by more than 6% in last week, reflecting the weakness of Bitcoin. Merchants say that a dominable nourished pivot could trigger short -term rebounds, but without fresh entrances, movements can remain limited.
The derivative markets indicate the cover pressure, while waiting. The Delta is biased by 30 days in Bitcoin options reached 12% this week, a four -month higher, reflecting downward protection demand.
“Bitcoin weakness is currently motivated mainly by macroeconomic factors,” said Ruslan Liardha, Youhodler market manager, in an email in Coindesk. “No significant cryptocurrency development weighs on the market.”
“On the other hand, the stock markets are under high sales pressure, and this broader feeling of risk is spreading in Bitcoin,” he added.
Linkha said it was not clear if the current positioning represents a short -term coverage before Powell’s speech or a deeper turn. “The markets seem to approach the last stages of the upward trend,” he said. “It is not clear if the current withdrawal represents the beginning of a broader trend reversal or simply another correction on the path of a final peak.”
While the short -term feeling has been embittered, some analysts continue to point to longer -term catalysts. Bitwise said that US retirement regime allowances could lead Bitcoin to $ 200,000 by the end of the year, potentially exceeding the impact of SPOT ETF approvals. The first entries could arrive in the fall, added the company.
For the moment, however, traders are focused on Powell’s remarks to Jackson Hole on Friday. A dominant tone could relieve pressure on risk assets, while any reluctance to approve the cuts can prolong the slide which has already taken the Bitcoin 9% on its highs.
