Bitcoin has been moving sideways, and traders are starting to lose patience. The world’s largest cryptocurrency couldn’t hold recent highs, sparking talk about whether the market is bracing for a sharper swing. Some analysts say the pause is normal, others warn it could be the calm before the storm.

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Traders Watch Price Levels Closely

Popular market watcher Daan Crypto Trades pointed out that Bitcoin’s struggle to pick a direction isn’t unusual. He noted the coin has been locked between support and resistance zones, with neither bulls nor bears taking control. It’s the kind of setup that often leads to big moves once one side gives in.

$BTC August has been pretty uneventful for Bitcoin so far. We’ve seen some movement but no clear direction as price consolidates in this current range.

Never in history, has BTC seen both a green August and September. We tend to see a quick flush followed by an explosive Q4 in… pic.twitter.com/cClxJUG6Vh

— Daan Crypto Trades (@DaanCrypto) August 17, 2025 

Meanwhile, technical evidence sends mixed signals. By September 16, 2025, Bitcoin will reportedly hit at least $130,266, which is a 13.07% increase compared to the previous prediction.

The Fear & Greed Index is currently at 60, indicating that greed is on the menu, while sentiment indicators are neutral.

In the last 30 days, Bitcoin had 14 green sessions out of 30, and the average performance remained on the positive at 1.63%. That isn’t extreme, but it does indicate that traders are being cautious.

Analysts Split On What’s Next

There are a few investors who believe the current lull is nothing but a breather before another rally. They say that buying interest remains high, particularly with long-term demand coming from institutions.

Skeptics, however, believe the latest rejection at higher levels is a sign of weakness and that another pullback opportunity has opened up.

Jitters in the marketplace always invite disorientation, and this moment is no exception. A 13% gain sounds exciting, but sentiment may change in a heartbeat if the Bitcoin price loses the entire support level.

Traders are keen to see if momentum will pick up or if the sideways chop will continue.

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Is It A Good Time To Buy?

Based on technical indicators, reports suggest it may still be a decent entry point. But timing is tricky. With price forecasts pointing toward $130K and resistance overhead, the next few weeks could decide the short-term trend.

Some see this as a chance to accumulate, while others would rather wait for a clearer breakout.

For now, Bitcoin sits in limbo. Traders are scanning the charts, looking for clues on whether the path to $135K is still alive — or if the market is setting up for another surprise.

Featured image from Adobe Stock, chart from TradingView

Bitcoin’s recent rally pushed the cryptocurrency to retest the $122,000 level before facing a pullback. At the time of writing, BTC is trading at approximately $119,053, marking a short-term correction after reclaiming significant highs earlier in the week.

The move comes as traders and analysts watch closely for signs of market strength or weakness at current price levels. One metric drawing attention is Binance’s share of global trading volume.

According to CryptoQuant analyst BorisVest, the exchange’s dominance in trading activity provides valuable context for interpreting Bitcoin’s performance at all-time highs (ATHs).

By comparing volume distribution across exchanges during previous ATH periods, the analysis seeks to determine whether the broader market is participating in the rally or if activity is concentrated on a single platform.

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Bitcoin Exchange Volume Concentration and Market Signals

BorisVest’s review found that during the first ATH in 2024, global market volumes were elevated, and Binance’s trading activity was more than double that of all other exchanges combined.

When Bitcoin retested its ATH later that year, overall market volumes increased across multiple platforms, yet Binance maintained its lead in total trading share.

In contrast, when Bitcoin set a new record in mid-2025, total market volume did not show a significant increase compared to previous rallies. While Binance still recorded nearly twice the trading volume of other exchanges combined, the absence of a wider market volume expansion raised concerns.

The analyst noted that historically, ATHs supported by broad volume growth tend to indicate stronger market conviction. A lack of participation from other exchanges could signal potential challenges in sustaining higher prices over the coming months.

On-Chain Patterns Suggest Gradual Market Progress

In a separate assessment, CryptoQuant analyst Avocado onchain examined Binary Coin Days Destroyed (CDD), a metric tracking the movement of long-dormant coins. The indicator recently turned lower after a brief rise, with Bitcoin’s price trading within a sideways range.

Historically, increases in Binary CDD have been linked to selling pressure from long-term holders, often leading to corrections. However, current market conditions, shaped by changes in custody solutions, over-the-counter trading activity, and institutional investment strategies, make interpreting CDD spikes more complex.

Avocado onchain highlighted that in recent cycles, Binary CDD rises have been followed by either prolonged sideways trading or moderate corrections.

The current data supports what the analyst describes as a “stair-step” rally, where the market advances gradually while cooling short-term speculative activity. This pattern, if sustained, could prevent rapid depletion of buying momentum and allow for more stable long-term growth.

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Other on-chain data suggests that selling from long-term holders remains subdued, indicating limited pressure to exit positions at current price levels.

This aligns with the view that while near-term movements may be range-bound, the broader trend still holds the potential for future upside, contingent on broader participation and sustained investor demand.

Featured image created with DALL-E, Chart from TradingView

Bitcoin’s (BTC) overnight push towards fresh records met with profit-taking on Monday, knocking prices down to $118,500.

The pullback left bitcoin 2.8% off its session high of $122,200, though the largest crypto remained up 0.4% over the past 24 hours.

Ether held above $4,200, modestly up 0.8% during the same period, while major altcoins Solana’s SOL (SOL), dogecoin

and Sui’s native token (SUI) slipped 3%-4%.

James Van Straten, senior analyst at CoinDesk, noted that bitcoin’s weekend rally left a gap in the CME futures market, which trade only on weekdays, between Friday’s close at $117,430 and Monday’s open at $119,000. History suggests that BTC could pull back to revisit and “fill” that gap, he said.

Tuesday’s U.S. Consumer Price Index (CPI) report could be the week’s biggest catalyst for traders, with Producer Price Index (PPI) data following later in the week.

Whether bitcoin’s momentum continues will likely depend on those U.S. macroeconomic data reports, Bitfinex analysts said in a Monday market report.

“With market sensitivity to macro events running high, traders should prepare for increased volatility and the possibility of a retracement toward $110,000 in the near term,” the Bitfinex analysts wrote.

“We believe that the ranging conditions and oscillation between the range highs and lows will continue, since price is constantly moving above and below the cost-basis of fresh buyers allowing for charged sentiments around key macro data releases,” they added.

Read more: Watch Out Below: Bitcoin’s Weekend Surge Leaves CME Gap

Major altcoins, including Ethereum and XRP, have taken a step back following a week of strong upward momentum. The broader crypto market is flashing red today as top assets face significant resistance after their recent surge.

Data from CryptoSlate shows that most of the top 10 cryptocurrencies by market capitalization are trading lower. Ethereum dropped by 2%, while XRP led losses with a sharp 10% decline. Other altcoins such as BNB, Solana, Cardano, Dogecoin, and Tron each recorded losses of over 4%.

Meanwhile, Bitcoin stood out as a rare gainer, posting a modest 0.26% increase. Stablecoin-linked tokens like USDT and USDC remained steady and unaffected by the market downturn.

Vincent Liu, Kronos Research’s Chief Investment Officer, told CryptoSlate that the market pullback was caused by the unwinding of leveraged long positions, which triggered a cascade of liquidations.

He added:

“[The market’s] thinning liquidity, shallow order books, and sharp volatility are amplifying the downside pressure.”

As a result, the total altcoin market capitalization fell below $1.5 trillion for the first time in a week, according to CoinMarketCap data. Meanwhile, the Altcoin Index dropped to 34, its lowest reading in several weeks, highlighting a broader market cooldown.

Still, sentiment among traders remains largely optimistic. Data from Coinalyze shows that more than 70% of traders in the top 10 altcoin markets maintain long positions, signaling ongoing belief in a potential rebound.

Valentin Fournier, Lead Research Analyst at BRN, said:

“Despite near-term weakness, the underlying structure remains bullish. Corporate demand continues to increase, and the reduced FTX repayment burden eases one of the market’s key downside risks.”

$976 million in crypto liquidations

The sharp market correction triggered a significant wave of liquidations. CoinGlass reports that over $976 million in positions were liquidated, affecting more than 316,000 traders.

Long traders, those betting on price increases, bore the brunt of the damage, losing $840 million. Short positions accounted for the remaining $135 million in losses.

Ethereum traders were hit the hardest, with liquidations totaling around $200 million. XRP followed with $115 million in losses. Other altcoin traders collectively saw $177 million wiped out.

Meanwhile, Bitcoin traders faced comparatively modest losses of $84 million.

The largest single liquidation event occurred on Binance, involving a $2.96 million long position on the BTC/USDC pair.

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