Bitcoin has reclaimed the crucial $115,000 level after briefly dipping to $112,000 earlier this week, signaling renewed strength from the bulls. The sharp recovery highlights buyers’ resilience following recent volatility, with price action now showing signs of bullish dominance. This rebound comes as traders and investors brace for the potential next leg up, eyeing higher resistance levels. Key market data adds weight to the bullish case. The Bitcoin Futures Open Interest Net Position — a closely watched indicator that tracks the balance between long and short positions — has shifted in favor of the bulls, showing a clear edge over shorts. This change in positioning suggests that sentiment is turning more optimistic, with market participants increasingly betting on further upside. However, while momentum is building, the coming days will be decisive. Bitcoin must maintain its hold above the $115K level to confirm this shift and open the door to a push toward the next major resistance. Failure to do so could invite fresh selling pressure, putting the recent gains at risk. For now, market structure and derivatives data suggest that bulls are in control, and the stage is set for Bitcoin’s next significant move. Bitcoin Market Sentiment Shifts as Technical and Fundamental Tailwinds Align According to top analyst Axel Adler, Bitcoin’s market structure is undergoing a notable shift. After a prolonged bearish regime since late July — marked by sustained short pressure and represented in the red zone — the SMA-120 line for the Bitcoin Futures Open Interest Net Position has reversed upward, reaching the neutral zero mark. This indicator, which reflects the balance between long and short positioning, signals that the market has moved from aggressive short dominance to a neutral-bullish stance. Adler notes that a similar reversal attempt occurred just a week ago but failed to hold, leading to renewed selling pressure. This time, if the SMA-120 remains above zero for another two consecutive days, it would confirm a regime change, potentially paving the way for a more sustained bullish phase. On the fundamental side, momentum is being supported by a major policy development: US President Donald Trump has signed an executive order permitting alternative assets, including cryptocurrencies, to be included in 401(k) retirement plans. This landmark decision could open the door for millions of Americans to gain exposure to Bitcoin and other digital assets through their retirement savings, significantly expanding potential demand. BTC Tests Key Liquidity Levels Bitcoin’s daily chart shows a strong recovery after recently dipping to the $112K region, with bulls reclaiming the critical $115,724 support level. The rebound has pushed BTC toward the $116,700 area, signaling renewed buying interest after a period of panic selling. The 50-day SMA (blue) is currently providing dynamic support near $113K, helping reinforce the bullish case in the short term. Above, the next major resistance is at $122,077, which marks the upper boundary of the recent consolidation range. A decisive breakout above this level could open the door for a retest of all-time highs. The market’s bias leans bullish as long as BTC remains above the 50-day SMA, but traders should watch for momentum signals. If price gains slow while approaching $122K, the risk of a pullback grows. Overall, BTC’s current structure reflects a market attempting to shift back into a bullish posture, with $115,724 acting as the key line in the sand for trend continuation. Featured image from Dall-E, chart from TradingView Powered by WPeMatico

Onchain analytics platform Glassnode has revealed that most Bitcoin short-term holders are in profit. This development has raised the possibility of the flagship crypto facing another sell-off from this category of holders, who may be unable to hold during this period of sideways action. 70% of Bitcoin Short-Term Holders Are in Profit A Glassnode report revealed that 70% of the Bitcoin short-term holders’ supply is in profit despite the recent Bitcoin price pull-back. The platform noted that the deeper the correction, the more their supply is likely to fall into loss, a development which could affect these holders’ confidence.  The report further stated that, considering that the Bitcoin price is currently trading within a relatively thin air-gap, the sell pressure is likely to come from late-stage profit-taking, should this happen. For now, the sell pressure from these Bitcoin short-term holders looks to be relatively low.  Glassnode pointed out the percentage of spent volume originating from Bitcoin short-term holders who were in profit to assess how much this corrective phase has influenced these investors. This metric measures the number of recently acquired coins that are taking profit. The platform noted that the proportion of short-term holders spent coins taking profit has cooled off, currently at 45%, which is a neutral position.  Glassnode stated that this suggests that the market is in a relatively balanced position, calming fears about a potential sell-off from Bitcoin short-term holders. Meanwhile, the platform also alluded to the Bitcoin ETFs, which also create sell-side pressure for the flagship crypto. These ETFs recorded a net outflow of 1,500 BTC on August 5, the largest wave of sell-side pressure since April 2025.  The report noted that outflows from the Bitcoin ETFs have been relatively brief events, with only a few instances of an extended streak of daily outflows, which create sustained sell-side pressure. Glassnode believes that keeping an eye on the ETF flows will help to identify whether this latest outflow is just a repeat of the short-lived trend or a shift in investors’ sentiment.  $116,900 Is The Resistance Level BTC Needs To Break Above Glassnode indicated that the Bitcoin price needs to break above the $116,900 level decisively to build any momentum for the next leg up. This level serves as the cost basis of local top buyers who bought BTC over the last month. The platform claimed that a sustained price move above this level would signal that the demand side is regaining control.  Furthermore, it also offers early confirmation that the Bitcoin price has found reliable support and could continue its move to the upside. On the other hand, if BTC remains below this level for a longer period, Glassnode remarked that it increases the risk of a deeper correction. Bitcoin could drop toward the lower bound of the air gap near $110,000.  At the time of writing, the Bitcoin price is trading at around $116,800, up over 2% in the last 24 hours, according to data from CoinMarketCap. Powered by WPeMatico

SPX6900 has ripped 23% higher in the past month, outpacing not just the S&P 500, but also a long list of blue-chip altcoins. For a meme index born from internet culture and irreverent finance, that kind of run reinforces one thing: the 6900 effect is alive and kicking. While traditional markets obsess over earnings calls and GDP prints, meme-led plays are delivering gains that put “serious” assets to shame. Riding this wave is TOKEN6900 ($T6900) – the self-described ‘anti-S&P,’ built on zero utility, zero roadmap, and zero corporate spin. It promises nothing and delivers exactly that. In the upside-down logic of meme finance, that might be the most honest proposition left. And with SPX6900’s surge in full swing, $T6900 could be next in line for the spotlight. SPX6900 Rally & Why It Matters SPX6900 ($SPX) has been on a tear for well over a year. $SPX is up 8.87% in the past week, 23.71% over the last month, and a staggering 10834.57% over the last year. These aren’t the kind of numbers you see in blue-chip equities or even most altcoin rallies. The driver? A flood of retail capital into high-volatility, community-driven plays where memes and market psychology matter more than fundamentals. SPX6900’s performance has proved that meme-led indexes can sustain multi-month momentum when the narrative is strong enough. In the process, ‘6900’ has become a brand in its own right, shorthand for absurdist finance done right. That brand power is exactly what TOKEN6900 is tapping into as it builds its own cult following ahead of launch. TOKEN6900 ($T6900) Overview – The ‘Non-Corrupt Token’ Branding itself as the world’s first Non-Corrupt Token (NCT), TOKEN6900 ($T6900) flips the crypto script, turning everything the industry usually pretends to be on its head. There’s no roadmap, no fake promises, no ‘AI-powered’ whitepaper filler. Just pure satire aimed at the S&P500, SPX6900, and the whole idea of fundamentals. It even improves on SPX6900 with one extra token in supply, making it objectively superior. At $0.006875, the sale has already pulled in over $1.71M, including a $16.3K buy on July 18, 2025. Holders can stake for 36% rewards (ironic for a ‘zero utility’ coin) while the clipart dolphin mascot serves as a tongue-in-cheek rejection of corporate branding. Joining in is simple: head to the official Token6900 presale site, connect your crypto wallet, and buy with $ETH, $USDT, $BNB, or even a card to secure your slice of honest absurdity. Final Verdict: Riding the 6900 Wave with TOKEN6900 Meme coin cycles have a habit of coming back louder, and SPX6900’s latest pump suggests absurdist finance is back in peak demand. TOKEN6900 is perfectly timed for this moment, channelling the same irreverent energy with its unapologetic ‘nothing to offer’ pitch. For traders who get the joke (and want in on the punchline), the presale offers a low entry point before the next price tier kicks in. Still, this is not financial advice. So please do your own research (DYOR): read the presale details, understand the risks, and only put in what you’re prepared to lose. Powered by WPeMatico

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