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Bitcoin settles into $110k–$116k ‘air hole’ as market awaits recent demand

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Bitcoin (BTC) is consolidating in a thin-liquidity “air hole” between $110,000 and $116,000 because the market waits for brand spanking new demand to ascertain a agency base.

Based on an Aug. 6 report by Glassnode, BTC’s value pulled again to $113,000 after setting a brand new all-time excessive above $123,000 in mid-July. This value motion left many latest consumers underwater and created a provide cluster with a price foundation above $116,000.

The decrease sure of that cluster repeatedly supported rebounds till July 31, when BTC broke decrease into the air hole. Traditionally, such low-liquidity ranges can morph into accumulation zones as consumers step in at a perceived low cost.

The report in contrast entity-adjusted URPD snapshots from July 31 and Aug. 4 to gauge dip-buying.

Picture: Glassnode

Following a rebound from round $112,000, traders acquired roughly 120,000 BTC and lifted spot costs again above $114,000, evidencing opportunistic demand.

Even so, the $110,000-$116,000 band stays mild in mixture provide. Time spent accumulating right here may doubtlessly construct a platform for the following transfer greater.

New resistance, metrics not overheated

The rally has but to reclaim the price foundation of holders with quantities of 1 week and one month outdated, now with a decisive resistance close to $116,900. A sustained break above would sign demand regaining management, whereas a failure raises the danger of a deeper take a look at of the earlier all-time excessive vary round $110,000.

Based on the report, value sits in a “heat” however not overheated regime and stays above the short-term holder (STH) price foundation at $106,000. This value degree is a threshold that has traditionally divided near-term bullish and bearish phases in Bitcoin bull markets.

Picture: Glassnode

STH provide in revenue has slipped from 100% to 70% through the drawdown, in step with the midline of prior bull cycles. The share of STH spent quantity in revenue has cooled to 45%, beneath impartial, implying a balanced market with neither facet dominant.

ETF flows and leverage

On Aug. 5, spot Bitcoin exchange-traded funds (ETFs) within the US noticed a 1,500 BTC outflow, the most important bout of ETF sell-side strain since April 2025. Traditionally, these episodes have been transient, however monitoring persistence is vital.

In derivatives, perpetual funding charges have slipped again beneath 0.1%, a impartial zone that signifies cooling speculative urge for food and tempered upside conviction within the close to time period.

Taken collectively, Bitcoin seems locked within the $110,000-$116,000 hall, accumulating provide and ready for demand enough to retake $116,900 and reassert the uptrend.

The submit Bitcoin settles into $110k–$116k ‘air hole’ as market awaits recent demand appeared first on CryptoSlate.

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