Bitcoin quoted about $ 113,700 on Thursday, is not maintained above $ 115,000 as the 50 -day mobile average resistance limited an attempt to rebound.
The broader cryptographic market added only 1% to $ 3.86 billion in capitalization, a movement that analysts described as a rebound on the road down instead of the beginning of a recovery.
“The technology sector in traditional financial markets remains under pressure, cushioning the mood of cryptocurrency buyers,” said Alex Kuptsikevich, FXPro Chief Market Analyst. “Bitcoin’s failed attempt to return over $ 115K only highlights market weakness.”
ETF flows were precautionary indicative. According to Sosovalue, the Bitcoin ETF experienced net exits of $ 523 million on August 19, followed by $ 311 million on Wednesday and $ 192 million on Thursday. Meanwhile, ETF of ETHER incurred more than $ 500 million in departures during the same period.
The consecutive retreats reversed the tickets of the previous week. Kronos’ investigation attributed weakness to the taking of profits and liquidations after the BTC record at the beginning of August.
The feeling has also been beaten by the headlines. The SEC is investigating Alt5 Sigma after its $ 1.5 billion agreement with World Liberty Financial, a firm linked to the president of the United States, Donald Trump.
Ethereum metrics in the chain have softened, with active addresses by 28% since July 30.
ETH quoted at $ 4,289, only 0.4% in the day, but still decreased more than 7% from recent maximums. Analysts say that the fall in active addresses, now 28% below the levels observed at the end of July, reflects a softer retail participation and could limit up short -term rise even if Bitcoin is stability.
XRP and Solana showed similar patterns, with XRP sliding to $ 2.87 and Solana to $ 183. Both files have decreased by more than 6% in last week, reflecting Bitcoin’s weakness. Merchants say that a pivot fed with misleading food could cause short -term rebounds, but without fresh inputs the movements can remain limited.
Meanwhile, derivative markets point to coverage pressure. The 30 -day Delta bias in the Bitcoin options reached 12% this week, a maximum of four months, which reflects the demand for downward protection.
“Bitcoin’s weakness is currently driven mainly by macroeconomic factors,” said Ruslan Lienkha, Hehodler Markets Chief, in an email to Coindesk. “There are no significant bearish crypto-native developments that weigh on the market.”
“On the contrary, capital markets are experiencing high sales pressure, and this broader risk feeling is spilling in Bitcoin,” he added.
Lienkha said it was not clear if the current positioning represents short -term coverage ahead of Powell’s speech or a deeper turn. “The markets seem to be approaching the posterior stages of the upward trend,” he said. “It is not clear if the current setback represents the beginning of a broader reversal of trends or simply another correction on the road to a final peak.”
While short -term feeling has been grated, some analysts continue to point to long -term catalysts. Bitwise said that the assignments of US pension plans could lead Bitcoin to $ 200,000 by the end of the year, exceeding the impact of Spot ETF approvals. The first tickets could already arrive in autumn, the company added.
For now, however, merchants remain focused on Powell’s comments in Jackson Hole on Friday. A modification tone could relieve pressure on risk assets, while any reluctance to support cuts can extend the slide that Bitcoin has already taken 9% of its maximums.
