Bitcoin was weak on August 14, when it fell from $63895 to $62667, a drop of about 2 per cent. The increase in the stock of spot, the expansion of the Big Whale List, and the continuous net outflow of United States real bitcoin ETF have kept the market under pressure, and prices are again close to a line of $62,000.
The giant whale alone is under pressure with the ETF financial flow.
The chain analyst, Ai Yi, indicated that a large trader continued to empty 258 BTCs at the original warehouse, increasing the total to 1900 BTCs at the current price of approximately $125 million, with an average opening price of approximately $63582.
This position alone is not sufficient to explain the overall decline, but after the loss of the bitcoin of $63,000, the open openings expanded, further exacerbating the leverage pressure.
At the same time, SoSoValue data show that the real bitcoin ETF in the United States has experienced net outflows on two consecutive trading days, totalling $192 million. The market's capacity to take on the sale has decreased simultaneously with the weakening of the purchase.
Macro-environment tight, risk asset containment
Apart from the encryption market itself, external risk preferences have not improved significantly. Near the Brent crude oil price station of US$ 87, the situation in Iran and the Strait of Hormuz raised concerns about energy supply; the United States maintained an annual national debt return of around 4.66 per cent and continued to suppress volatile asset performance.
Despite the mildness of the July wholesale inflation data in the United States, Bitcoin has not received the same significant boost as the US share, suggesting that the prevailing price is still dominated by a weak internal sales pressure and liquidity in the encrypted market.
62200 to $62,500 for short-line support. And...
On the whole, Bitcoin has fallen to the midway of the dailies, $6392, and is close to the de-orbit of $62507. 4 At the hour level, the price is still below the Supertrend resistance position of $64094, and the financial flow indicator Chaikin Money Flow is -0.08, indicating that the sale will still prevail.
CoinGlass' one-week settlement hottest attempt shows that there is more leverage in the vicinity of $62,200. If prices continue to go down, it may trigger a new round of multiple liquidations. If you break $62,000, you can see two areas of liquidity: $61,500 and $60,300 below.
Up there, if bitcoin repositions between $63,500 and $64100, the empty pressure could be phased out. The zone covers both the average open slot of the whale, the mid-orbit of the lumber belt and the 4-hour Supertrend resistance position. In the event of further breakthroughs of $64,100, the market may test a settlement-intensive area around $64,500 to $64700.