Story: Analyzing Bitcoin FOMO: Why a Re-Test of $110K Could Be Imminent

Bitcoin News By Sakamoto Nashi

2 / 15 The Significance of $116K as a Cost Basis. Bitcoin’s price around $116,963 represents a significant concentration of the supply—over 700,000…

3 / 15 Is $114K the New Accumulation Zone?. Bitcoin’s price at $114K might still be considered a decent accumulation zone for some buyers, but…

4 / 15 Accumulation Trend Slows Down. On-chain data reveals that Bitcoin’s Accumulation Trend Score (ATS) has dropped significantly,…

5 / 15 Market Sentiment: FOMO Fades as Caution Sets In. The overall market sentiment has shifted. The surge in FOMO that previously fueled Bitcoin’s rally…

6 / 15 The Likely Re-Test of $110K. With Bitcoin’s momentum cooling and market sentiment shifting, the likelihood of a re-test of…

7 / 15 Conclusion: Bitcoin’s Critical Moment. Bitcoin is currently at a crossroads. With a slowing accumulation trend and cooling market…

8 / 15 Bitcoin (BTC) is currently facing a critical point in its price action, with increasing pressure on long-term holders (HODLers) and a market grappling with uncertainty.

9 / 15 Bitcoin’s cost basis at $116,963 holds over 700,000 BTC (about 3.61% of total supply), positioning this level as a pivotal point in the market.

10 / 15 On August 16, Bitcoin saw a major profit-taking event, resulting in a 1.9% decline to $114,707.

11 / 15 With diminishing FOMO (Fear of Missing Out) and growing caution, the market could be setting up for a re-test of $110K.

12 / 15 A cooling of market enthusiasm and thinning liquidity could potentially bring Bitcoin down to $110K before fresh buying interest reappears.

13 / 15 Bitcoin’s price at $114K might still be considered a decent accumulation zone for some buyers, but with the heavy supply cluster at $116K, it’s unclear if this level will hold.

14 / 15 On-chain data reveals that Bitcoin’s Accumulation Trend Score (ATS) has dropped significantly, falling from 0.57 to 0.20 within just a week.

15 / 15 The overall market sentiment has shifted. The surge in FOMO that previously fueled Bitcoin’s rally has slowed, and caution is now taking over.

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