Overview

• BTC trades roughly 10% below its recent record, holding under the 100‑hour SMA with resistance near $112,500–$113,000 and support around $110,600, $109,500 and $108,750.
• CryptoQuant’s Binance Buying Power Ratio shows rising stablecoin inflows alongside BTC withdrawals, which analysts view as a buildup of potential buying power.
• Short‑term holder SOPR has dipped below 1, indicating recent buyers are realizing losses and raising the risk of either renewed selling or a sharp rebound.
• On‑chain gauges show 30‑day exchange inflows at their lowest since May 2023 and about 919,000 active addresses, suggesting steady usage with reduced immediate selling pressure.
• Traders look for a move toward $117,000 if momentum improves, with U.S. inflation, rates and labor data flagged as key catalysts heading into September.