Bitcoin’s recovery in August faces challenges, as significant sell signals arise from long-term holders cashing out. Notably, dormant whales moved 3,000 BTC, typically indicative of local prices reaching a peak.
Options market data shows rising demand for downside protection as the skew turned negative. Additionally, $1.2 billion outflow from Bitcoin ETFs reveals a cautious stance from institutional investors, aligning with a broader weakening in risk appetite.
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