Overview

• Bitcoin dipped below the $115,000 support zone to a local low of about $112,700 and now hovers near $113,000 as the Parabolic SAR flips bearish and RSI falls to 44.
• Short-term holders sent roughly 21,400 BTC to exchanges at a loss in the past 24 hours, signaling a wave of retail capitulation.
• The perpetual-spot price gap turned negative on major venues, indicating growing short dominance in the derivatives market.
• Institutional demand remains robust, with MicroStrategy spending $2.46 billion to acquire 21,021 BTC and raising its total holdings to 628,791 coins.
• On-chain fundamentals hold up as spot exchanges saw $32.56 million of net inflows on August 2 and active addresses climbed 11.6%, with new addresses up 7.7%.