The price of Bitcoin (BTC) reached $117,000 after a careful response to news that normally benefits it after trimming the interest rate applied in the US last week. After that, cold began to be recognized in the environment. The strength of the impulse is infamously worsening, and vulnerability is the order of the day.
Market research and analysis company GlassNode believes in its Bitcoin He marks the pattern of “buying rumors and selling news.” This means that the recovery from the Federal Reserve decision will continue to be followed by weakening profits and demand, according to analysts.
The company highlighted last week that the relative Strength Index (RSI), which measures the performance and impulse of the Bitcoin market, was derived from the overcompra region at an average of 71.2 points.
At the same time, the accumulated volume delta (CVD), which indicates the purchase pressure or seller accumulated in BTC, proved a sharp drop of 128% last week, but the volume was US$5.6 billion. These data show weak demand and reduced participationdespite the escalations that occurred after the Fed’s announcement.
Meanwhile, futures behavior reflected last week’s mixed signal. For example, public interest was at a high level of US$47.4 billion, and funding rose modestly. This suggests cautious optimism. However, permanent CVD entered strong negative lands from $16.2 million to $455.4 million to $455.4 million. The movement said It refers to selling pressure already more pronounced distribution by leveraged trailers.
Cooling has also been proven in the Bitcoin ETF sector negotiated in the US. After weeks of strong ticketing, net flows suddenly fell to $931 million, 54.1% less than the previous week when tickets reached US$2,000 million.
For GlassNode, last week’s ETF data shows that Institutional demand shows moderation signalswith a pause of accumulation by traditional financial actors.
Signs found
Meanwhile, on-chain data showed signs found last week. The amount of active addresses and Bitcoin network transfers has been improved, indicating greater commitment and increased capital flows. However, prices fell 11.6%, reflecting a decline in crowds and a decline in speculative demand. This suggests that there is no urgency of the transaction, but participation will increase.
When it comes to capital flows, they remained steady with a careful bias. The capital letters performed were slightly reduced, the relationship between short-term and long-term holders increased, with high-temperature capital exceeding the historical range by 35.1%. This indicates an increase in short-term activity, which increases the risk of additional volatility.
Similarly, the profit and loss indicators improved at the time of Unrealized Profit/Loss (NUPL), where profit offers measure the difference in current market value and the value obtained by the currency on average. They went up, just like the profits traders made. The latter reflects increased profitability and positive profits for investors.
Based on all of the above, GlassNode believes that The sense of the Bitcoin market is resistant and bullish tonealthough this behavior poses a risk of demand fatigue.
Previous reports warned that it is important for the same company to already maintain the $115,000 level. “Making sure to maintain US$115,000 is the key to maintaining impulses, and losing it risks contraction to $105,500,” the company said. The conclusion was that most of the entire circular allegations were in the profit zone after rebounding for the Fed’s announcement.
They also warned that the market was in a fragile equilibrium and was waiting for confirmation. “Stability beyond cost-based key levels can be extended upwards, but flow vulnerabilities continue to take advantage of the risk,” they said at that time.
However, on Monday, September 22nd, the vulnerability and fix phases were realized. BTC fell almost 3%, losing its $115,000 levelOn average, it negotiates around $112,600, according to the cryptocurrency calculator.
This fall had a strong impact on the derivatives market. For example, the cryptocurrency market liquidation reached $1,710 million in 24 hours. This is the highest number ever recorded since 2025. Additionally, a few hours before the $113,000 drop, $1,401 BTC accumulated between two and three years moved into exchange. This transfer is usually interpreted as a previous sales signal and strengthens market pressure.
Amendments to the agenda
Aaron Ormos, a Venezuelan economist specializing in digital assets, explains to crypto that the Federal Reserve decision has a normal impact on Bitcoin.
Ormos points out that factors such as the American economy, tariffs and geopolitical events affect the direction of capital. This can lead to movement towards a volatile and safe vehicle, albeit temporarily. According to the specialist, Bitcoin has tended to collect space after September and is considered an active shelter in the medium term.
Regarding institutional participation, Ormos emphasizes that in his opinion there are quite a few set-ups. He believes institutional participation in the crypto-active market, primarily Bitcoin, will never cease. “Maybe you can slow your rhythm down, but you’re still growing quite a bit,” he explains.
In their opinion, the BTC ETF represents an option that will stay even if instantaneous slowdown is generated.
The economist, despite the cooling stage, Bitcoin’s trajectory shows upward structural trends. “If you do time analysis and see the evolution of Bitcoin over the last 16 years, what’s alive today is a phase of the cycle. There’s corrections or slowdown, but Bitcoin always returns with more force,” he says.
Olmos recalls that half of Bitcoin and the scheduled scarcity of digital assets make a difference over other cryptographic effects. “The low technical conditions of Bitcoin production based on rewards that decrease over time guarantee a growth trend,” he says.
So, while GlassNode’s forecast risks have been confirmed at a fall below $115,000, the market faces a turning point. Discussions while maintaining yourself at the current level or aiming to make greater contraction. However, the nature of BTC is upwards, and in such cases it seems convenient to see it rather from a retrospective plane in real time.
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