Bitcoin's price is currently under pressure, oscillating around the $110,000 level. This is due to cooling accumulation and uncertainty in Federal Reserve policy.
Analysis of Current Bitcoin Price
After a sharp price drop, Bitcoin is now consolidating around $110,000. Recently, profit-taking actions have affected trader sentiments.
Key Factors Affecting Price
Key factors influencing the price include a decline in Glassnode's Accumulation Trend Score, which fell from 0.57 to 0.20, and a decrease in the odds of a Fed rate cut in September, adding risks for Bitcoin.
Outlook and Possible Scenarios
Depending on price dynamics in the coming days, several scenarios can emerge: a slow upward trend if the $116,963 level is held or a potential further drop to $110,000 if the situation worsens.
The next month will be crucial for Bitcoin prices, as uncertainty in Fed policy and the current state of the market may be decisive factors for short-term prospects.
