Bitcoin’s recent price action has drawn renewed attention as the asset attempts to rebound from last week’s decline. Following its July peak above $123,000, BTC experienced a downturn, hitting lows around $112,000 over the weekend.
However, the latest data now suggest a gradual recovery in progress, with the cryptocurrency trading above $116,000 at the time of writing.
Despite this modest rebound, some analysts are warning that underlying market sentiment could be pointing to a potential correction. Recent insights from contributors on the CryptoQuant QuickTake platform highlight signs of increasing optimism among traders, particularly on Binance.
The balance between long and short positions is showing a distinct bias toward the long side, a pattern historically associated with short-term reversals.
Sentiment
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