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Bitcoin bounces at $ 117k, and heavy bodoming hint that bulls are not yet ready. Rebound spot demand suggests that the dry powder can be, the preparation of re-introducing because “crypto week” warms up.
Bitcoin’s [BTC] 1.32% Intraday bounces off the $ 117k close of the previous day is another memory that a confirmed local top is not yet here.
The $ 90 million short liquidity grip on $ 118.139 added momentum, with bulls that clearly look at the upward liquidity. Nevertheless the 800 million in Tether [USDT] Expansion suggest that there is some risk-off rotation in the game.
According to Ambcrypto, this push-pull could favor the bulls if they are immediately timed, with $ 44 million in lifting tree positions clustered around $ 120,300 as a magnet for price.
Trump’s “Crypto Week” increases Bitcoin’s bullish setup
The brilliant action is reflected in the spotlight. This time as a legitimate bullish catalyst. Trump’s renewed push and confirmation From its likely passage, the market gave a much needed dose of clarity of the regulations.
Bitcoin Front-Ran the sentiment, reclaiming $ 119k with a clean 1.50% daily candle. But is it too early to call a local soil? Could still be a dead cat, right?
Not so fast. Glassnode data shows that approximately 196k BTC, around $ 23 billion, was scooped up during the dip of $ 116k $ 118k. That is almost 8x more than the BTC achieved profit since the ATH.
Source: Glassnode
Of course, it is still premature to call a confirmed floor, but this kind of stacking to bid-side has historically the front-run breakout rallies, especially when following volume starts.
Now throw in the macro catalyst: the genius law goes to the house floor.
According to ambcrypto, when bulls ride in the momentum, that combination of structural demand and regulatory clarity could be the trigger that drives Bitcoin through it overhead liquidity And the next leg starts higher.
Stablecoin falls out of the nail
As marked earlier, the move to Stablecoins looked like classic risk-off behavior. But with spot offers that pick up again, it becomes more as a strategic side department than a complete disconnection.
That $ 800 million parked in USDT? It can already turn back, with the demand for the net spot that crawls higher after a short cooldown.
Source: Cryptuquant
Of course, it is too early to call it a full battery phase, but with “crypto-week” in motion, solid bidding support under BTC and traders who cover with precision, this heel could be set as a launch platform.
As Trump momentum Sticks, we may see another upward liquidity wipe, in which the bias begins to tilt in the direction of a push over a withdrawal.