After he reached his last High (ATH) on August 14, Bitcoin (BTC) was a steady decrease and acted just above the level of $ 110,000 at the time of writing. While some analysts save that the crypto-bull-run may be over, data on chains suggests that there is at least a large leg ahead for BTC.
Bitcoin Bull Market about? Not completely
According to a cryptoquant Quicktake post from Employee Employee, the past two days have been withdrawn in the past two days from Crypto Exchange Kraken. This was followed by another large withdrawal of 15,000 BTC.
The cryptoquant analyst stated that such significant recordings are not something that is usually observed near the peak of a bull market cycle. Instead, exchanges on market tops witness an influx of BTC or other cryptocurrencies, signaling distribution.
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Although the retail trade to BTC is currently vulnerable, a few large portfolios still collect BTC in large quantities. Data from the past shows that the demand for the retail trade to BTC is rapidly increasing to Bullmarkttops. The current lukewarm question, however, suggests that BTC “has at least one large leg ahead.”
That said, colleague -Cryptoquant analyst Caueconomy offered a contrasting version. According to their analysis, large BTC holders continue to reduce their exposure to the digital actively, so that they recently reach the largest coin distribution in 2025.
In particular, BTC -Walvis reserves have fallen by 100,000 coins in the last 30 days, which has a high risk -aversion among large investors. As a result, an increased sales pressure has weighed the BTC price, so that it will be pushed under $ 108,000 at the end of August. The analyst added:
At the moment we still see these reductions in the portfolios of major players, who can continue to put pressure on in the coming weeks.
Technical ways point to renewed power
While BTC whales – investors with 1,000 to 10,000 BTC – possibly reduce their exposure to the cryptocurrency, technically point to further space for growth for the leading digital assets per market capitalization.
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For example, Crypto analyst noticed Crypto shared the following graph on X, and said that BTC is close to the invalid that the bearish dual top pattern on the daily card is invalid. As soon as BTC pushes over the neckline convincingly, it can offer a new bullish momentum to actively.
That said, there are some signs of caution. For example, for example crypto analyst Doctor profit stated That if BTC cannot defend the support level of $ 107,000 – $ 108,000, it might be of the risk of falling to $ 90,000.
Likewise A deprivation Below the level of $ 98,000 could be a disaster for the flagship Cryptocurrency. The long -term bull case for BTC, however remnant intact. At the time of the press, BTC acts at $ 110,460, a decrease of 0.9% in the last 24 hours.
Featured image of Unsplash, graphs of cryptoquant and tradingview.com