The Bitcoin (BTC) market is approaching closures for one of the most exciting weeks.
Digital currency began its period with enough feet at around $116,000 and quickly headed towards a new historic biggest.
On Wednesday, August 13th, he scored the top spot, with prices exceeding $124,000 per Bitcoin. However, the happiness persisted very little: After just 24 hours, the quote retreated strongly to a maximum of $117,000in unfavourable macroeconomic data and statements from the heart of American economic policy.
In the following graph provided by the CoingCKO platform, BTC price movements are observed over the past seven days.
Bitcoin’s jump to the new historic biggest seemed to consolidate the narrative that this bullish cycle still has fuel to continue to advance. As reported by Cryptootics, Climbing was supplied by sustained entry of institutional and corporate capitalwhich acted as the background engine for this market a few months ago. The purchase pressure was enough to find BTC in an area that had never been before, breaking previous record $123,090.
But the magic quickly disappeared. The next day, Thursday, August 14th The market responded with a tough revision to two news from the US. On the one hand, wholesale inflation data (producer price index) is worse than expected, giving the fear that the Federal Reserve will remain in a more restrictive position for longer. Meanwhile, Treasury Secretary Scott Beschent declared that Donald Trump’s government is not planning on purchasing Bitcoin for national strategy preparation, limiting the fund’s growth to BTC, which it seized in the judicial process.
The combination of both information generated a massive sale that again pushed BTC to a $117,000 strip, almost completely erasing the profits accumulated in the first half of the week.
However, Besent’s statement deserves a more detailed reading. Initially, officials were categorical: “We’re not going to buy.” This led him to give up hope that the treasure would go to the market to strengthen BTC ownership. A few hours later, Besant clarified his proverbs on Network X, ensuring that the administration is still committed to exploring the “neutral budget” form to expand the reserve. However, the floating message is that there are no direct purchases, at least for now.
The market was embracing the expectation that the White House could become an active buyer. The disappointment was quickly reflected in the price.
Bitcoin is stuck between two forces
This week’s photo shows Bitcoin still locked up between two powers. On the other hand, New biggest each visible seller pressurefeeding trader It uses volatility to make a profit. on the other hand, More cautious, but constant purchase currentfrom investment funds, companies, and even sovereign funds.
This conflict of interest explains the indecisiveness that markets dominate today. Retailers appear to be absent, but Google shows that because of the low search level for “Bitcoin” and the media coverage in general has been shown to be low, but institutions continue to accumulate patiently.
As can be seen in the image below currently provided by the Bitcoin Treasuries portal: There are over 100 public contributors with Bitcoin in balance:
What’s coming for Bitcoin?
The big problem is where the market moves the next day. $116,000-117,000 has proven to be a critical resistance zone At the waterfall. If the buyer can maintain that level, it can strongly reinvigorate bullish pressure. On the other hand, deeper ruptures open the door to major descent, and in the short term, question the continuity of the upward cycle.
In the medium and long term, the upward story remains. The institutional and corporate capital flows against Bitcoin have not stopped. Stock market-listed companies, including micro-tactics, huge capital like BlackRock and Fidelity, as well as players from Middle Eastern states, continue to strengthen their positions. For these actors, a set of 5,000 or $10,000 in price is a short-term noise within decades of commitment.
Players in large markets continue to accumulate. Retail interest is looking out today, but sooner or later, as always happens with the Bitcoin cycle. So, Weekly indecisiveness should not be confused with structural vulnerability.
This week, although perhaps there is no clear definition (or you may receive a surprise between today and Sunday), there is a certainty that Bitcoin history is written in cycles rather than in a few days. And in that cycle, what appears to be today’s indecisiveness simply pauses the path to new heights.
