Bitcoin Falls to $115,300 Amid Profit-Taking and Tariff Concerns
Market Overview
Bitcoin (BTC) is trading at $115,300, down 2.3% as renewed global tariffs from the White House impact Asian markets. The Nikkei 225 and Seoul's KOPSI opened lower, reflecting broader market declines.
Key Developments
- Around $260 million in long positions liquidated in the last 4 hours.
- BTC faces pressure from profit-taking after reaching all-time highs.
- $6–8 billion in realized gains recorded in late July during a major profit-taking wave.
- 80,000 BTC sold off by a significant whale on July 25.
- New whale cohorts, accumulating BTC recently, were the main sellers.
- Exchange inflows surged to 70,000 BTC post-sell-off, indicating strong exit intentions.
- Ethereum-based whales also realized up to $40 million in daily profits.
- Historical profit-taking events often lead to 2-4 months of consolidation.
- Coinbase premium flipped negative, showing reduced American buyer activity.
- Market sentiment impacted by macro risks from tariff escalations targeting Canada.
- Lack of clear catalysts may keep risk-taking selective and cautious.
Market Movements
- BTC: Trading at $115,500, down 2.3% amid tariff impacts.
- ETH: Hovering near $3,800 after a 50% surge in July, with bullish projections up to $16K.
- Gold: Dropped to $3,287.39, down 0.38%, as dip-buying offset a strong U.S. dollar.
- Nikkei 225: Down 0.65%, while the Topix index remained flat.
- S&P 500: Futures slipped as traders evaluate Big Tech earnings and upcoming jobs report.