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Bitcoin tests support OI near extremes, Stablecoin flows in the shift and reset the sentiment by indicating potential contrast settings.
Bitcoin [BTC] adheres to key support as a price action chopped in indecision. During the last week he printed two lower minimums, while the 25th August failed to keep the bounce.
Result?
BTC by 4% per week, marking eight weeks minimum at $ 107,452. However, open interest raised to $ 84.93 billion, which signaled an extreme lever effect.
Therefore, the sweeping of liquidity was inevitable.
According to Ambcrypt, this reset could prepare a podium for a regeneration leg or prepare a way for deeper drawing. Either way, the bets are high and the patience of the market is thin.
The tone of the risk of deepening when bitcoins violate support
A net break below $ 110,000 was on the rolling of sentiment.
Bitcoin’s index of fear and greed has just printed a four -month minimum to 39 (fear), slipping from 50 (neutral) only a day earlier. The surrender has not yet intervened, but the belief clearly thinned.
On the other hand, the last three have launched strong rebounds into this zone.
Most importantly, when the index hit 42, the rally was driven by BTC at that time $ 123,000 in less than three weeks.
Source: Glassnode
This time, however, there is a key divergence.
In the last three reasons, the range of $ 107,000 has been ranked by “greed”, signaling overheated positioning and the risk of icing. Now the same zone is tested under the “fear” that indicates the resetting of sentiment.
Simply put, what was once a ceiling of resistance is now a potential support. Technical, This overturning often sets the contradictory structures of bitcoins, especially if liquidity begins to cluster on the offer side.
The accumulation of liquidity increases the risk of bull trap disintegration
Stablecoin Minting is a solid proxy for liquidity flows.
Only over the last three days, issuers They gained a combined stock of $ 4 billion.
Yet the BTC constantly loses the level of support back to each other, showing that fresh liquidity is not on a bike.
By adding weight, the clean outflow of USDT reached 27th August 915 million dollars and in the next 48 hours equalized 3.67% BTC. In short, DIP $ 110,000 was not absorbed because the offers remained thin.
Source: Glassnode
In this case, Bitcoin’s fading risk of appetite is based.
BIDS copites are thin, liquidity is parked on the sidelines and the sentiment was stuck in fear.
All in all, no clear bottom. 2 billion dollars short wall The $ 115,000 is still unaffected, which shows that the bulls are not shot for this liquidity.
Until it does, it looks limited. Bitcoin remains vulnerable to deeper drawing, and if the sentiment does not return to greed, the path of the least resistance remains at the disadvantage.
