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HTX DeepThink: Bitcoin Consolidates Strength, Japanese Political Situation and Tariff Negotiations May Determine Short-Term Direction
Summary: According to HTX DeepThink analysis, Bitcoin surged to $121,800 yesterday before falling back to around $118,000, with on-chain data showing a 57% average profit margin, limiting upside potential. Bitcoin is currently consolidating strength awaiting direction signals, with two key catalysts to watch: profit-taking and clarity on macro variables. Political turmoil in Japan may impact August ...
According to HTX DeepThink analysis, Bitcoin surged to $121,800 yesterday before falling back to around $118,000, with on-chain data showing a 57% average profit margin, limiting upside potential.
Bitcoin is currently consolidating strength awaiting direction signals, with two key catalysts to watch: profit-taking and clarity on macro variables. Political turmoil in Japan may impact August US-Japan tariff negotiations, while the EU and US's temporary tariff delay does little to ease global uncertainty. CME BTC futures positions remain high, stablecoin inflows are slowing, and funds are mostly on the sidelines.
It is expected that BTC will fluctuate in the $115,000-$123,000 range in the short term, with early August being a critical decision-making point.
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Link: HTX DeepThink: Bitcoin Consolidates Strength, Japanese Political Situation and Tariff Negotiations May Determine Short-Term Direction [Copy]
