Bitcoin\u2019s (BTC) momentum has cooled down in recent weeks as investors persist in locking in profits. Slowing demand has also contributed to the cool down, with current figures about two-thirds less than last month\u2019s records.<\/p>\n
According to the weekly report<\/a> from CryptoQuant, the Bitcoin market has moved from an extra bullish to a bullish cooldown phase.<\/p>\n During this cool-down phase, Bitcoin\u2019s apparent demand has fallen from a July peak<\/a> of 174,000 BTC to 59,000 BTC today. Institutional BTC buyers have slowed down in their accumulation \u2013 they are still buying, but not as much as before. The business intelligence firm, Strategy, which is the lead BTC buyer, has seen its purchases tumble from a November 2024 high of 171,000 to 27,000 over the past 30 days.<\/p>\n Spot Bitcoin exchange-traded funds (ETFs) are also seeing their lowest inflows in four months. Their 30-day net purchases currently hover around 11,000 BTC, a level not seen since late April.<\/p>\n \u201cThis broad-based decline in demand growth suggests fading momentum, which likely contributed to the recent price correction. Continued softness in demand could keep Bitcoin in a consolidation phase,\u201d CryptoQuant stated.<\/p>\n Moreover, on-chain indicators are flashing weaker signals, which reveal that the market remains constructive, but with fading<\/a> bullish momentum. The CryptoQuant Bull Score Index moved from the \u201cExtra Bullish\u201d to \u201cBullish Cooldown\u201d phase after BTC rallied past $120,000. Current market conditions tally with the ongoing price decline.<\/p>\n \u201cThe transition to a bullish cooldown typically precedes sideways movement or mild corrections. Without a return to strong demand signals, further upward momentum may remain limited in the near term,\u201d the analytics firm added.<\/p>\n Furthermore, new whale investors have been taking profits. This cohort of investors has led a spree that has realized at least $74 billion in profits since July 4. Notably, the market recorded its largest daily profit so far this year ($9 billion) on that same day.<\/p>\n Since then, the investors have not relented in taking profits \u2013 August 16 saw new whale investors realize up to $2 billion in gains.<\/p>\n Meanwhile, bitcoin\u2019s price hovered around $116,000 at the time of writing, but with reduced downside risk. CryptoQuant analysts believe the leading digital asset may find support near $110,000, which is the Trader On-chain Realized Price. This level often acts as support during bull cycles, and traders\u2019 unrealized profit margin goes to zero, discouraging more selling.<\/p>\n The post From Bullish to Cooldown: Bitcoin Remains in Profit-Taking Phase as Demand Fades (CryptoQuant)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s (BTC) momentum has cooled down in recent weeks as investors persist in locking in profits. Slowing demand has also contributed to the cool down, with current figures about two-thirds less than last month\u2019s records. According to the weekly report from CryptoQuant, the Bitcoin market has moved from an extra bullish to a bullish cooldown […]<\/p>\n","protected":false},"author":0,"featured_media":90836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-90835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/90835"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=90835"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/90835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/90836"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=90835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=90835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=90835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Momentum is Cooling Down<\/h2>\n
Support at $110K?<\/h2>\n