Asia Morning Briefing: Bitcoin Drops to $115K as Third Major Profit-Taking, New Tariff Tensions Add Pressure

Asia Morning Briefing: Bitcoin Drops to $115K as Third Major Profit-Taking, New Tariff Tensions Add Pressure

Bitcoin Correction Could Linger for Months: CryptoQuant - WorldNL Magazine

In brief On-chain data shows the third major wave of whale profit-taking since mid-2024, joined by miner sell-offs after July’s all-time high. Options traders are bracing for a pullback, targeting 10–30% downside into September. Capriole’s Edwards says Bitcoin is “undervalued,” with Q4 seasonality historically favoring strong returns. Bitcoin is caught in a tug-of-war between profit-taking whales and long-term holders, a standoff that one on-cha…

Bitcoin Correction Could Linger for Months: CryptoQuant

Bitcoin faces near-term pressure from whales and miners cashing out, even as long-term models and seasonal trends point to renewed upside.

Bitcoin drops to $115K amid third major wave of profit-taking, new tariff tensions

Bitcoin is poised to end the trading week in Asia on a weaker note, down 2.3% on the day and changing hands above the $115,300 mark.

New whales trigger Bitcoin’s third profit-taking wave of current cycle

Bitcoin’s rejection above $120,000 triggered the third major profit-taking wave of the cycle, driven mainly by new whales, according to CryptoQuant.