Aug 6, 2025
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Bitcoin Declines Nearly 4% to $113,993 After All-Time High
Bitcoin has experienced a decline of nearly 4% over the past week, trading at $113,993. This marks a drop of approximately 7.2% from its peak of over $123,000 in July.
Bitcoin Price Discovery and Potential Q4 Gains
- Analyst Oinonen attributes the recent pullback to technical market conditions.
- Factors include macroeconomic uncertainty and bearish technical indicators.
- The situation is viewed as a “technical correction” within a longer-term bullish trend.
- Focus remains on Bitcoin’s price discovery process to establish fair market value.
- Historically, Bitcoin has performed well in Q4, with potential for prices to reach $200,000 if patterns hold.
- High stablecoin reserves on Binance may influence Bitcoin's trajectory positively.
Caution Over Negative Coinbase Premium Signals
- Some analysts express caution regarding market signals.
- The Coinbase Premium Index recently turned negative, indicating weaker buying pressure from US investors.
- Historically, stronger Bitcoin rallies have correlated with a positive Coinbase Premium.
- Traders are advised to wait for renewed spot demand before anticipating a sustainable uptrend.
