- Bitcoin is struggling under $ 111k despite bullish indicators and the highest monthly close ever.
- Q3 Historically weak for BTC, but the market sentiment remains careful in the midst of macro uncertainty.
The Cryptomarkt was sharp after President Donald Trump’s rate announcements, causing fresh waves of volatility.
Bitcoin [BTC]who fell to $ 105,000, has returned since then and is currently being traded at $ 107,898, which marks a modest profit of 0.8% in the last 24 hours, according to Coentecko.
Crypto -Sentiment remains optimistic
Despite market fluctuations, however, the general sentiment remains relatively optimistic.
The Crypto Fear & Greed Index registered A score of 63, still within the “greed” zone, although slightly lower than the previous day.
Ray Youssef, who was sent in an e-mail to Ambcrypto, that Bitcoin was sent that Bitcoin has just recorded the highest monthly close ever, in a comment on the same comment on the same comment.
This is a strong indicator that the long -term bullish trend remains intact.
However, price movement tells a more modest story, in which BTC is locked in a tight trading range in the past week between $ 106,000 and $ 108,700.
Youssef noticed,
“This reveals how tight bitcoin is still in the” risk-on “corner of the Global Portfolio, while it should play his role as a macroheg in his activa class.”
Historical trends
That said, historically, Bitcoin has managed an average profit of the third quarter of 5.47% since 2013, according to Coinglass, which suggests a potential price of around $ 111,000 at the end of September as the trend.
Analysts such as Daan attribute The typical modest performance of Q3 to the slower pace of summer trade, with reduced volume and liquidity.
“As you can see from the historical data, this quarter is generally the slowest of everything, for both $ BTC & $ ETH.”
Nevertheless, important indicators suggest that the market sentiment remains skewed to Bitcoin.
This is because his dominance is 65.5%, which reflects a strong lead over altcoins, while the Altcoin Season index of Coinmarketcap is currently reading Only 20 out of 100, which indicates a clear “Bitcoin season”.
Yet not all signals point to strength, such as Cryptoquant’s head of research, Julio Moreno, put it best as he said”
“Bitcoin Bull score is now on neutral territory – 50. Must be 60 or higher to support the prices a rally.”
Where is Bitcoin going?
Historically, July was the most resilient month of Bitcoin, which never loses a loss more than 10%.
Despite the fact that he is only 5.5% below the all time, BTC has difficulty reclaiming the $ 111k level more than 40 days.
This long -term range -bound movement evokes concern that what could ever appear when healthy consolidation can become in a potential local top.
So, although historical patterns are in favor of optimism, the current data suggest that investors may have to be careful in July.