Ah, Bitcoin-the digital gold that once made us dream of Lamborghinis and private islands. But alas, even the mightiest of coins must rest its weary circuits. In recent weeks, BTC‘s momentum has taken a vacation, leaving investors to sip their profit-taking lattes while demand fades like a mirage in the desert.
According to CryptoQuant’s weekly report, Bitcoin’s market has shifted from “Extra Bullish” to what we might call the “Bullish Siesta” phase-a period where enthusiasm wanes, and everyone pretends they’re still excited but secretly just want to nap.
This cool-down isn’t subtle. Apparent demand for Bitcoin has plummeted faster than a crypto scammer fleeing the scene. From a July peak of 174,000 BTC, it now sits at a modest 59,000 BTC. Institutional buyers, those supposed titans of accumulation, have slowed their purchases to a trickle. Strategy, the leading corporate hoarder of BTC, went from gobbling up 171,000 coins in November 2024 to a mere 27,000 over the past month. Truly, the wolves have turned into sheep 🐑.
And let’s not forget the spot Bitcoin ETFs, which are now seeing inflows so low they could be mistaken for a toddler’s piggy bank. Their 30-day net purchases hover around 11,000 BTC, levels unseen since late April. As CryptoQuant dryly notes, this “broad-based decline in demand growth suggests fading momentum,” which is analyst-speak for “the party’s over, folks.”
“The transition to a bullish cooldown typically precedes sideways movement or mild corrections,” the analytics firm warns. Translation: Buckle up, because Bitcoin might be stuck in limbo land for a while.
On-chain indicators, those cryptic tea leaves of the blockchain world, are also flashing weaker signals. The CryptoQuant Bull Score Index has descended from its “Extra Bullish” throne to join the plebeians in the “Bullish Cooldown” realm. Current market conditions align with the ongoing price dip, as if the universe itself decided Bitcoin needed a timeout.
Will $110K Be Bitcoin’s Safety Net? 🛡️
Meanwhile, new whale investors-those deep-pocketed players who can move markets with a single trade-are busy cashing out like there’s no tomorrow. Since July 4, they’ve realized a staggering $74 billion in profits. On that fateful day, the market saw its largest daily profit haul of the year: $9 billion. And they haven’t stopped since; on August 16 alone, these whales reaped another $2 billion in gains.
At the time of writing, Bitcoin clings stubbornly to the $116,000 mark, though downside risks appear muted. CryptoQuant analysts suggest $110,000 could serve as a support level-an invisible safety net woven from traders’ unrealized profits. When prices hit this threshold, selling pressure tends to ease, much like how one stops chopping onions when tears blur the vision.
So here we stand, watching Bitcoin teeter between resilience and retreat. Will it rally again, or will it continue its descent into consolidation purgatory? Only time-and perhaps a few more whale wallets-will tell. Until then, grab your popcorn and enjoy the show. 🍿
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2025-08-24 14:52