Bitcoin continues to showcase significant price fluctuations, with numerous factors influencing the market in the short term.
Current Price Fluctuations of Bitcoin
As of August 26, 2025, Bitcoin's price has been fluctuating between $109K and $113K, reflecting a 1.1% decrease over the last 24 hours.
Indicators Suggest Peak Cycle Has Not Been Reached
Analysis of various indicators shows that Bitcoin's current price is not close to its cycle peak. For instance, the Pi Cycle Top indicator points to a level of around $113,400, significantly lower than the historical peak of $186,976. The Puell Multiple is also below its key level, while other indicators, such as the MVRV Z-Score, reveal that the market has yet to reach its maximum.
Derivative Trading and Liquidations
The Bitcoin derivatives market is active, with daily trading volume rising by 19.9% to $133.64 billion. However, open interest has decreased by 2.98% to $82.01 billion, indicating a reduction in long-term speculative interest. Simultaneously, options volume has surged by 61.29%, reflecting growing interest in speculating on Bitcoin's future price movements. Long positions dominate, yet liquidations of $267.80 million, primarily from longs, indicate potential stress in the market.
Overall, the current state of the Bitcoin market is characterized by short-term volatility and growth prospects. Key indicators suggest that the market has not yet reached its peak, and activity in derivatives reflects increasing interest among participants.
