Bitcoin News
By Pankaj K
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Mounting Pressure at Descending Highs. Over the past week, Bitcoin oscillated between a local high of $115,550 and a low near $108,400.
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Momentum Turns Cautious. CryptoQuant’s 30-day momentum index reveals a shift in market sentiment.
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Market Structure and Consolidation Pattern. The current Bitcoin price pattern resembles a classic consolidation after a failed breakout.
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Key Levels to Watch. Traders are now focused on several critical price levels for BTC:
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Outlook for October. As BTC enters October, traders are closely watching both macroeconomic factors and on-chain…
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Bitcoin (BTC) experienced a cooling period as September comes to a close, trading within a narrow corridor and showing signs of weakening momentum.
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CryptoQuant data and analysis from Axel Adler suggest that buyers are losing early ground after a week of descending highs.
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Adler points out that these descending highs are a warning sign for bulls, as early weakness may suggest difficulty in reclaiming momentum.
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If BTC clears this band, buyers could attempt to retake $114,000–$115,400, the previous range of highs.
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CryptoQuant’s 30-day momentum index reveals a shift in market sentiment. Momentum closed the week near -2%, down from +1% at the start, representing a three-point swing.
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These figures underline that the loss of the $114,000–115,000 support coincided with falling buying pressure.
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The current Bitcoin price pattern resembles a classic consolidation after a failed breakout. Buyers tried to push BTC north of $115,000 but were unable to maintain those levels.
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Despite the cooling momentum, there is no indication of a full-scale sell-off. Liquidity remains available near established support levels, suggesting that Bitcoin could still…
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Resistance: $111,000–$112,000, which must be decisively breached to test higher zones.
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Next test: $114,000–$115,400, representing the prior high range.
The Currency Analytics
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