Man, okay, so let’s break this down. Bitcoin kind of kicked off the weekend and the whole new month with a bit of a disaster. I mean, its price nose-dived below $115,000 on Friday, August 1. Why? Well, apparently President Donald Trump had some nuclear threat that sent shockwaves through the market. Now, it’s chilling under the $113,000 mark. Not exactly the best vibes, right?
But hey, folks are talking. Like, is Bitcoin hitting its peak this cycle? Some say yeah, but most people are still hedging their bets it’ll climb back up for one more hurrah before really peaking.
Now, this guy Amr Taha, an analyst over on this place called CryptoQuant, thinks we might see Bitcoin bounce back. He’s talking about this big jump in the spot volume on Binance — it’s this huge crypto exchange, in case you’re not into all the deets. The volume surged to over $7.6 billion in BTC, and that’s a lot, but looking at it from a different angle, price dropped from above $118,000 to around $113,000. It’s like, volatile much? Traders are definitely shuffling around.
And there’s this pattern, apparently. Whenever spot volume jumps sky-high like this — like that $7 billion ride we saw in June — you kind of expect some big turns in the market. Taha’s thinking this could show new investor interest, which might just be good news for Bitcoin.
There’s also this bigger picture, macroeconomic stuff. Taha notes something about the US Federal Reserve’s net liquidity shooting up from $6 trillion to $6.17 trillion as of last Friday. Why’s that matter? Usually, when there’s more cash in the system — we’re talking about the big bucks here — it flows into risky stuff like Bitcoin.
Summing it up, Taha reckons the rise in Binance’s Bitcoin volume combined with the Fed’s liquidity could mean a bullish run for Bitcoin. Big words, but it’s his take.
Right now, BTC’s at about $112,600. It’s down over 1% in the past day. Nothing too wild, but worth mentioning.
Images? Yeah, just some charts and graphs to back it up from CryptoQuant and TradingView. If you want to dive deeper, those visuals might help, but that’s the gist of it.
